iShares India 50 ETF (NASDAQ:INDY) Reaches New 12-Month Low – Should You Sell?

iShares India 50 ETF (NASDAQ:INDY)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $41.82 and last traded at $41.93, with a volume of 161710 shares changing hands. The stock had previously closed at $43.01.

iShares India 50 ETF Stock Down 1.8%

The firm has a market cap of $550.86 million, a price-to-earnings ratio of 23.21 and a beta of 0.45. The business has a 50 day moving average of $46.41 and a 200 day moving average of $49.88.

Institutional Investors Weigh In On iShares India 50 ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its stake in shares of iShares India 50 ETF by 11.9% during the third quarter. PNC Financial Services Group Inc. now owns 1,859 shares of the company’s stock valued at $95,000 after buying an additional 198 shares during the period. Creative Planning raised its holdings in iShares India 50 ETF by 1.1% in the 2nd quarter. Creative Planning now owns 24,888 shares of the company’s stock valued at $1,353,000 after acquiring an additional 260 shares during the last quarter. Carret Asset Management LLC raised its holdings in iShares India 50 ETF by 2.1% in the 4th quarter. Carret Asset Management LLC now owns 12,784 shares of the company’s stock valued at $630,000 after acquiring an additional 260 shares during the last quarter. Webster Bank N. A. lifted its stake in shares of iShares India 50 ETF by 9.9% during the 4th quarter. Webster Bank N. A. now owns 3,390 shares of the company’s stock worth $167,000 after purchasing an additional 305 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in shares of iShares India 50 ETF by 7.5% during the 4th quarter. NewEdge Advisors LLC now owns 4,448 shares of the company’s stock worth $219,000 after purchasing an additional 312 shares during the period.

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.