Short Interest in First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) Increases By 61.5%

First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) saw a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 6,300 shares, a growth of 61.5% from the February 13th total of 3,900 shares. Based on an average trading volume of 33,500 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the shares of the company are sold short.

First Trust India NIFTY 50 Equal Weight ETF Price Performance

Shares of NFTY stock opened at $53.31 on Monday. The stock has a market cap of $253.22 million, a P/E ratio of 22.78 and a beta of 0.72. First Trust India NIFTY 50 Equal Weight ETF has a one year low of $51.57 and a one year high of $65.90. The stock has a fifty day moving average price of $54.17 and a 200 day moving average price of $58.34.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NFTY. Coppell Advisory Solutions LLC lifted its position in First Trust India NIFTY 50 Equal Weight ETF by 190.4% in the fourth quarter. Coppell Advisory Solutions LLC now owns 938 shares of the company’s stock worth $52,000 after purchasing an additional 615 shares during the period. Kestra Investment Management LLC acquired a new position in First Trust India NIFTY 50 Equal Weight ETF during the fourth quarter worth $61,000. Harbour Investments Inc. raised its stake in First Trust India NIFTY 50 Equal Weight ETF by 3,516.7% during the fourth quarter. Harbour Investments Inc. now owns 1,085 shares of the company’s stock worth $61,000 after acquiring an additional 1,055 shares in the last quarter. PNC Financial Services Group Inc. acquired a new position in First Trust India NIFTY 50 Equal Weight ETF during the fourth quarter worth $153,000. Finally, Capital Wealth Alliance LLC acquired a new position in First Trust India NIFTY 50 Equal Weight ETF during the fourth quarter worth $249,000.

First Trust India NIFTY 50 Equal Weight ETF Company Profile

The First Trust India NIFTY 50 Equal Weight ETF (NFTY) is an exchange-traded fund that is based on the NIFTY 50 Equal Weight index. The fund tracks an equally weighted index of the 50 largest and most liquid Indian equity securities. NFTY was launched on Feb 14, 2012 and is managed by First Trust.