India Internet ETF (NYSEARCA:INQQ – Get Free Report) was the target of a significant decline in short interest in June. As of June 30th, there was short interest totaling 44,520 shares, a decline of 63.6% from the June 15th total of 122,350 shares. Approximately 1.3% of the shares of the stock are sold short. Based on an average daily volume of 59,943 shares, the days-to-cover ratio is currently 0.7 days.
Hedge Funds Weigh In On India Internet ETF
A number of hedge funds have recently made changes to their positions in INQQ. Raymond James Financial Inc. purchased a new stake in shares of India Internet ETF during the second quarter worth about $81,000. Ameriprise Financial Inc. boosted its stake in India Internet ETF by 6.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 39,929 shares of the company’s stock worth $663,000 after purchasing an additional 2,304 shares during the period. Evergreen Capital Management LLC bought a new position in India Internet ETF in the 2nd quarter worth approximately $1,878,000. Osaic Holdings Inc. grew 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. Finally, Envestnet Asset Management Inc. purchased a new stake in India Internet ETF during the 3rd quarter valued at approximately $231,000.
India Internet ETF Price Performance
Shares of INQQ stock opened at $13.24 on Monday. India Internet ETF has a one year low of $11.25 and a one year high of $16.67. The company’s fifty day moving average price is $12.49 and its 200-day moving average price is $12.97. The company has a market capitalization of $44.88 million, a price-to-earnings ratio of 57.79 and a beta of 0.66.
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.
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