iShares India 50 ETF (NASDAQ:INDY) Sees Strong Trading Volume – Time to Buy?

Shares of iShares India 50 ETF (NASDAQ:INDY) saw unusually-strong trading volume on Wednesday. Approximately 145,061 shares traded hands during trading, an increase of 3% from the average daily volume of 140,179 shares. The stock last traded at $45.9480 and had previously closed at $46.21.

iShares India 50 ETF Stock Performance

The company has a 50-day moving average of $42.28 and a 200 day moving average of $43.62. The firm has a market cap of $597.80 million, a P/E ratio of 19.68 and a beta of 0.45.

Institutional Investors Weigh In On iShares India 50 ETF

Large investors have recently made changes to their positions in the company. Bank of America Corp DE increased its position in shares of iShares India 50 ETF by 293.1% during the 1st quarter. Bank of America Corp DE now owns 171,080 shares of the company’s stock worth $7,226,000 after purchasing an additional 127,557 shares in the last quarter. Banque Pictet & Cie SA acquired a new position in iShares India 50 ETF in the third quarter valued at about $1,228,000. Sax Wealth Advisors LLC bought a new stake in iShares India 50 ETF during the third quarter worth about $422,000. Citadel Advisors LLC increased its holdings in shares of iShares India 50 ETF by 20.1% during the second quarter. Citadel Advisors LLC now owns 53,107 shares of the company’s stock worth $2,307,000 after buying an additional 8,898 shares in the last quarter. Finally, StoneX Group Inc. acquired a new stake in shares of iShares India 50 ETF during the third quarter worth approximately $232,000.

iShares India 50 ETF Company Profile

iShares India 50 ETF, formerly iShares S&P India Nifty 50 Index Fund, seeks investment results that correspond generally to the price and yield performance of the S&P CNX Nifty Index (the Index). The Index measures the equity performance of the top 50 companies by market capitalization that trade in the Indian market. The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.