India Internet ETF (NYSEARCA:INQQ) Trading Down 1.5% – Time to Sell?

Shares of India Internet ETF (NYSEARCA:INQQ) dropped 1.5% on Tuesday . The stock traded as low as $12.15 and last traded at $12.46. Approximately 41,035 shares changed hands during mid-day trading, an increase of 9% from the average daily volume of 37,669 shares. The stock had previously closed at $12.65.

India Internet ETF Stock Down 1.5%

The firm has a market capitalization of $46.97 million, a P/E ratio of 57.79 and a beta of 0.60. The firm’s 50-day simple moving average is $13.98 and its 200-day simple moving average is $15.18.

India Internet ETF Announces Dividend

The business also recently announced an annual dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 30th were given a $0.3283 dividend. The ex-dividend date was Tuesday, December 30th. This represents a yield of 223.0%.

Institutional Investors Weigh In On India Internet ETF

Large investors have recently added to or reduced their stakes in the company. MAI Capital Management purchased a new position in shares of India Internet ETF in the 2nd quarter worth about $51,000. Raymond James Financial Inc. bought a new stake in India Internet ETF in the 2nd quarter worth approximately $81,000. Osaic Holdings Inc. boosted its stake in India Internet ETF by 21.5% in the second quarter. Osaic Holdings Inc. now owns 6,382 shares of the company’s stock worth $106,000 after buying an additional 1,130 shares in the last quarter. Susquehanna International Group LLP bought a new position in India Internet ETF during the third quarter valued at approximately $163,000. Finally, Envestnet Asset Management Inc. purchased a new position in shares of India Internet ETF during the third quarter worth approximately $231,000.

India Internet ETF Company Profile

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.