India Internet ETF (NYSEARCA:INQQ) Sees Significant Growth in Short Interest

India Internet ETF (NYSEARCA:INQQ) was the recipient of a large increase in short interest in the month of May. As of May 15th, there was short interest totaling 3,818 shares, an increase of 2,411.8% from the April 30th total of 152 shares. Based on an average daily volume of 19,182 shares, the short-interest ratio is presently 0.2 days. Currently, 0.1% of the company’s shares are short sold.

Institutional Investors Weigh In On India Internet ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ausdal Financial Partners Inc. lifted its holdings in India Internet ETF by 2.8% during the 3rd quarter. Ausdal Financial Partners Inc. now owns 36,281 shares of the company’s stock valued at $566,000 after buying an additional 992 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in India Internet ETF by 21.5% during the 2nd quarter. Osaic Holdings Inc. now owns 6,382 shares of the company’s stock valued at $106,000 after buying an additional 1,130 shares in the last quarter. Prosperity Financial Group Inc. lifted its holdings in India Internet ETF by 3.2% during the 3rd quarter. Prosperity Financial Group Inc. now owns 39,388 shares of the company’s stock valued at $614,000 after buying an additional 1,211 shares in the last quarter. Royal Bank of Canada lifted its holdings in India Internet ETF by 3.1% during the 1st quarter. Royal Bank of Canada now owns 49,507 shares of the company’s stock valued at $576,000 after buying an additional 1,474 shares in the last quarter. Finally, Smith Moore & CO. lifted its holdings in India Internet ETF by 7.7% during the 4th quarter. Smith Moore & CO. now owns 26,737 shares of the company’s stock valued at $394,000 after buying an additional 1,905 shares in the last quarter.

India Internet ETF Stock Up 0.6%

INQQ traded up $0.07 on Wednesday, reaching $12.29. 20,311 shares of the company traded hands, compared to its average volume of 32,721. India Internet ETF has a one year low of $11.25 and a one year high of $16.67. The firm has a fifty day simple moving average of $12.31 and a two-hundred day simple moving average of $13.61. The company has a market cap of $44.49 million, a P/E ratio of 57.79 and a beta of 0.70.

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.