India Internet ETF (NYSEARCA:INQQ) Short Interest Up 3,150.1% in May

India Internet ETF (NYSEARCA:INQQ) was the target of a large growth in short interest during the month of May. As of May 29th, there was short interest totaling 124,089 shares, a growth of 3,150.1% from the May 14th total of 3,818 shares. Approximately 3.4% of the shares of the company are short sold. Based on an average trading volume of 38,501 shares, the days-to-cover ratio is presently 3.2 days.

Institutional Trading of India Internet ETF

Several institutional investors and hedge funds have recently modified their holdings of INQQ. Raymond James Financial Inc. acquired a new stake in shares of India Internet ETF during the 2nd quarter valued at $81,000. Osaic Holdings Inc. boosted its stake in shares of India Internet ETF by 21.5% during the second quarter. Osaic Holdings Inc. now owns 6,382 shares of the company’s stock valued at $106,000 after purchasing an additional 1,130 shares in the last quarter. Susquehanna International Group LLP acquired a new stake in shares of India Internet ETF during the third quarter valued at about $163,000. Envestnet Asset Management Inc. bought a new stake in shares of India Internet ETF during the third quarter worth about $231,000. Finally, Quantify Chaos Advisors LLC acquired a new position in shares of India Internet ETF in the fourth quarter valued at approximately $237,000.

India Internet ETF Price Performance

India Internet ETF stock traded up $0.07 during mid-day trading on Wednesday, hitting $12.02. 1,664 shares of the company’s stock traded hands, compared to its average volume of 31,440. The firm has a 50 day simple moving average of $12.35 and a two-hundred day simple moving average of $13.38. India Internet ETF has a fifty-two week low of $11.25 and a fifty-two week high of $16.67. The stock has a market cap of $43.51 million, a price-to-earnings ratio of 57.79 and a beta of 0.68.

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.