Invesco India ETF (NYSEARCA:PIN) Stock Price Up 0.8% – Time to Buy?

Invesco India ETF (NYSEARCA:PIN)’s stock price traded up 0.8% during trading on Tuesday. The stock traded as high as $20.72 and last traded at $20.61. Approximately 23,891 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 50,088 shares. The stock had previously closed at $20.4393.

Invesco India ETF Stock Performance

The company has a market cap of $156.43 million, a P/E ratio of 26.32 and a beta of 0.47. The stock’s fifty day moving average price is $20.61 and its two-hundred day moving average price is $21.24.

Hedge Funds Weigh In On Invesco India ETF

Several hedge funds and other institutional investors have recently modified their holdings of the business. Cetera Investment Advisers boosted its stake in Invesco India ETF by 8.4% in the first quarter. Cetera Investment Advisers now owns 73,686 shares of the company’s stock valued at $1,767,000 after buying an additional 5,686 shares in the last quarter. Private Advisor Group LLC grew its position in Invesco India ETF by 4.8% in the first quarter. Private Advisor Group LLC now owns 31,868 shares of the company’s stock valued at $764,000 after acquiring an additional 1,446 shares during the last quarter. Kestra Advisory Services LLC grew its position in Invesco India ETF by 230.9% in the first quarter. Kestra Advisory Services LLC now owns 23,028 shares of the company’s stock valued at $552,000 after acquiring an additional 16,069 shares during the last quarter. Checchi Capital Advisers LLC grew its position in Invesco India ETF by 3.3% in the first quarter. Checchi Capital Advisers LLC now owns 19,597 shares of the company’s stock valued at $470,000 after acquiring an additional 622 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new position in Invesco India ETF during the first quarter worth about $25,000. Institutional investors own 40.83% of the company’s stock.

About Invesco India ETF

PowerShares India Portfolio (the Fund) is based on the Indus India Index (Index). The Fund seeks to achieve its investment objective by investing substantially all of its assets in a wholly-owned subsidiary located in the Republic of Mauritius (the Subsidiary), which in turn invests at least 90% of its total assets in securities of Indian companies that consists of the Index, as well as American depositary receipts(ADR) and global depositary receipts (GDR) based on the securities in the Index. The Index is designed to represent the segment of the Indian equity markets.