First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) Shares Down 1.6% – Here’s Why

First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY)’s share price was down 1.6% during mid-day trading on Thursday . The company traded as low as $53.04 and last traded at $53.29. Approximately 32,128 shares changed hands during mid-day trading, an increase of 10% from the average daily volume of 29,207 shares. The stock had previously closed at $54.17.

First Trust India NIFTY 50 Equal Weight ETF Trading Down 1.6%

The business’s fifty day simple moving average is $57.11 and its 200 day simple moving average is $57.89. The stock has a market cap of $151.88 million, a P/E ratio of 24.33 and a beta of 0.45.

Institutional Trading of First Trust India NIFTY 50 Equal Weight ETF

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

First Trust India NIFTY 50 Equal Weight ETF Company Profile

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.