India Internet ETF (NYSEARCA:INQQ) Shares Down 3% – What’s Next?

Shares of India Internet ETF (NYSEARCA:INQQ) fell 3% during mid-day trading on Tuesday . The company traded as low as $11.70 and last traded at $11.70. 68,413 shares were traded during mid-day trading, an increase of 98% from the average session volume of 34,631 shares. The stock had previously closed at $12.06.

India Internet ETF Stock Down 1.6%

The stock has a fifty day simple moving average of $13.08 and a 200 day simple moving average of $14.72. The firm has a market capitalization of $44.22 million, a P/E ratio of 57.79 and a beta of 0.60.

India Internet ETF Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers grew its holdings in India Internet ETF by 10.5% during the 2nd quarter. Cetera Investment Advisers now owns 57,303 shares of the company’s stock valued at $951,000 after buying an additional 5,444 shares in the last quarter. MAI Capital Management bought a new position in shares of India Internet ETF during the second quarter worth $51,000. Smith Moore & CO. grew its stake in India Internet ETF by 6.8% during the second quarter. Smith Moore & CO. now owns 22,295 shares of the company’s stock valued at $370,000 after acquiring an additional 1,410 shares in the last quarter. Raymond James Financial Inc. purchased a new position in India Internet ETF during the second quarter valued at $81,000. Finally, Ameriprise Financial Inc. increased its holdings in India Internet ETF by 6.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 39,929 shares of the company’s stock valued at $663,000 after acquiring an additional 2,304 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.