First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) Shares Down 1.1% – Should You Sell?

Shares of First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) dropped 1.1% during trading on Friday . The company traded as low as $52.01 and last traded at $52.22. Approximately 20,981 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 33,835 shares. The stock had previously closed at $52.80.

First Trust India NIFTY 50 Equal Weight ETF Stock Down 1.1%

The firm has a market capitalization of $135.77 million, a price-to-earnings ratio of 24.33 and a beta of 0.45. The stock’s fifty day moving average is $53.12 and its two-hundred day moving average is $55.71.

First Trust India NIFTY 50 Equal Weight ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 26th were issued a dividend of $0.3053 per share. This represents a $1.22 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Thursday, March 26th.

Institutional Investors Weigh In On First Trust India NIFTY 50 Equal Weight ETF

A number of institutional investors and hedge funds have recently modified their holdings of the company. Gateway Wealth Partners LLC raised its holdings in shares of First Trust India NIFTY 50 Equal Weight ETF by 111.4% in the 1st quarter. Gateway Wealth Partners LLC now owns 8,576 shares of the company’s stock valued at $442,000 after purchasing an additional 4,519 shares during the period. Merkkuri Wealth Advisors LLC raised its holdings in shares of First Trust India NIFTY 50 Equal Weight ETF by 2.6% in the 1st quarter. Merkkuri Wealth Advisors LLC now owns 35,391 shares of the company’s stock valued at $1,823,000 after purchasing an additional 896 shares during the period. Rockefeller Capital Management L.P. raised its holdings in shares of First Trust India NIFTY 50 Equal Weight ETF by 450.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 920 shares of the company’s stock valued at $54,000 after purchasing an additional 753 shares during the period. OLD Mission Capital LLC raised its holdings in shares of First Trust India NIFTY 50 Equal Weight ETF by 977.1% in the 4th quarter. OLD Mission Capital LLC now owns 118,992 shares of the company’s stock valued at $6,940,000 after purchasing an additional 107,945 shares during the period. Finally, Equitable Holdings Inc. raised its holdings in shares of First Trust India NIFTY 50 Equal Weight ETF by 22.8% in the 4th quarter. Equitable Holdings Inc. now owns 27,886 shares of the company’s stock valued at $1,626,000 after purchasing an additional 5,172 shares during the period.

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.