India Internet ETF (NYSEARCA:INQQ) Sees Large Increase in Short Interest

India Internet ETF (NYSEARCA:INQQ) was the target of a significant growth in short interest during the month of May. As of May 15th, there was short interest totaling 3,818 shares, a growth of 2,411.8% from the April 30th total of 152 shares. Based on an average daily volume of 19,182 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the shares of the company are short sold.

India Internet ETF Price Performance

India Internet ETF stock opened at $12.29 on Thursday. India Internet ETF has a 12 month low of $11.25 and a 12 month high of $16.67. The business has a 50 day simple moving average of $12.31 and a 200-day simple moving average of $13.61. The stock has a market capitalization of $44.49 million, a PE ratio of 57.79 and a beta of 0.70.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of INQQ. Evergreen Capital Management LLC purchased a new position in India Internet ETF in the second quarter worth $1,878,000. Ameritas Advisory Services LLC acquired a new stake in shares of India Internet ETF during the fourth quarter valued at $302,000. Quantify Chaos Advisors LLC acquired a new stake in shares of India Internet ETF during the fourth quarter valued at $237,000. Envestnet Asset Management Inc. acquired a new stake in shares of India Internet ETF during the third quarter valued at $231,000. Finally, Jane Street Group LLC boosted its stake in India Internet ETF by 8.9% in the 4th quarter. Jane Street Group LLC now owns 132,202 shares of the company’s stock worth $1,946,000 after buying an additional 10,798 shares during the last quarter.

About India Internet ETF

The India Internet & Ecommerce ETF (INQQ) is an exchange-traded fund that is based on the INQQ The India Internet & Ecommerce index. The fund tracks an index of companies centered around the internet and e-commerce technology in India. Securities are selected and weighted by market-cap. INQQ was launched on Apr 6, 2022 and is managed by India.