First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) Sees Significant Growth in Short Interest

First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) was the recipient of a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 29,429 shares, a growth of 36.4% from the February 12th total of 21,581 shares. Approximately 1.0% of the shares of the stock are sold short. Based on an average trading volume of 33,670 shares, the days-to-cover ratio is presently 0.9 days. Based on an average trading volume of 33,670 shares, the days-to-cover ratio is presently 0.9 days. Approximately 1.0% of the shares of the stock are sold short.

First Trust India NIFTY 50 Equal Weight ETF Stock Performance

Shares of First Trust India NIFTY 50 Equal Weight ETF stock traded up $0.77 during midday trading on Monday, hitting $53.46. 23,547 shares of the company traded hands, compared to its average volume of 29,301. The stock has a market cap of $152.36 million, a price-to-earnings ratio of 24.33 and a beta of 0.45. The firm’s fifty day moving average price is $56.99 and its 200-day moving average price is $57.86. First Trust India NIFTY 50 Equal Weight ETF has a 12 month low of $52.49 and a 12 month high of $60.70.

Institutional Trading of First Trust India NIFTY 50 Equal Weight ETF

A number of hedge funds have recently added to or reduced their stakes in NFTY. Sound Income Strategies LLC acquired a new position in shares of First Trust India NIFTY 50 Equal Weight ETF during the fourth quarter worth $32,000. Arax Advisory Partners acquired a new stake in shares of First Trust India NIFTY 50 Equal Weight ETF during the 4th quarter valued at $52,000. Hazlett Burt & Watson Inc. boosted its holdings in shares of First Trust India NIFTY 50 Equal Weight ETF by 75.3% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 1,374 shares of the company’s stock valued at $80,000 after acquiring an additional 590 shares in the last quarter. NewEdge Advisors LLC bought a new stake in First Trust India NIFTY 50 Equal Weight ETF during the 1st quarter worth $127,000. Finally, Western Wealth Management LLC bought a new stake in First Trust India NIFTY 50 Equal Weight ETF during the 4th quarter worth $203,000.

About First Trust India NIFTY 50 Equal Weight ETF

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.