Short Interest in iShares India 50 ETF (NASDAQ:INDY) Increases By 42.1%

Recently, the iShares India 50 ETF (NASDAQ:INDY) experienced a significant rise in short interest, showing a notable increase of 42.1% as of September 30, 2024. The total short interest reached 397,400 shares, up from 279,600 shares just two weeks earlier on September 15. With an average daily trading volume of 73,100 shares, this increase translates to a short-interest ratio of approximately 5.4 days.

Current Stock Performance of INDY

On the trading day following the short interest report, INDY shares opened at $54.79. Over the past year, the stock has seen a low of $43.60 and a high of $57.30. The current market capitalization stands at around $980.74 million, with a price-to-earnings (P/E) ratio of 25.20. Additionally, the stock has a beta of 0.70, which indicates it is less volatile compared to the market overall. The 50-day moving average is at $54.90, while the 200-day moving average is positioned at $53.02, suggesting relatively stable performance.

Investment Activities Surrounding iShares India 50 ETF

In recent months, various institutional investors and hedge funds have adjusted their holdings in the iShares India 50 ETF. For example, Creative Planning increased its stake by 8.5% during the third quarter, now holding 24,732 shares valued at approximately $1.39 million after buying an additional 1,929 shares. Meanwhile, Gateway Advisory LLC raised its stake by 2.0% during the second quarter, controlling 130,228 shares worth $6.99 million after acquiring 2,529 shares. Other notable changes include Marshall Wace LLP entering a new position in the ETF valued at around $317,000, and Commonwealth Equity Services LLC increasing its stake by 1.8%, now holding 19,147 shares valued at $1.03 million. Also, Waypoint Capital Advisors LLC initiated a stake worth about $227,000 in the second quarter.

Overview of iShares India 50 ETF

The iShares India 50 ETF, previously known as the iShares S&P India Nifty 50 Index Fund, aims to mirror the price and yield performance of the S&P CNX Nifty Index. This index tracks the equity performance of the leading 50 companies by market capitalization listed on the Indian stock exchanges, making it a key player for investors looking to gain exposure to India's growing market.

short, interest, ETF