Short Interest in India Internet ETF (NYSEARCA:INQQ) Expands By 3,150.1%

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

Institutional Investors Weigh In On India Internet ETF

Several institutional investors and hedge funds have recently bought and sold shares of INQQ. Evergreen Capital Management LLC purchased a new stake in India Internet ETF in the 2nd quarter worth approximately $1,878,000. Ameritas Advisory Services LLC purchased a new position in shares of India Internet ETF in the 4th quarter valued at approximately $302,000. Quantify Chaos Advisors LLC purchased a new position in shares of India Internet ETF in the 4th quarter valued at approximately $237,000. Envestnet Asset Management Inc. purchased a new position in shares of India Internet ETF in the 3rd quarter valued at approximately $231,000. Finally, Jane Street Group LLC lifted its stake in shares of India Internet ETF by 8.9% in the 4th quarter. Jane Street Group LLC now owns 132,202 shares of the company’s stock valued at $1,946,000 after purchasing an additional 10,798 shares during the period.

India Internet ETF Trading Up 0.9%

NYSEARCA INQQ traded up $0.11 on Tuesday, hitting $11.95. The company’s stock had a trading volume of 16,904 shares, compared to its average volume of 31,715. India Internet ETF has a 52-week low of $11.25 and a 52-week high of $16.67. The company’s 50-day simple moving average is $12.35 and its 200 day simple moving average is $13.38. The firm has a market cap of $43.26 million, a P/E 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.