First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) Stock Price Down 0.6%

First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY)’s share price dropped 0.6% on Wednesday . The company traded as low as $60.13 and last traded at $60.48. Approximately 18,970 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 29,104 shares. The stock had previously closed at $60.84.

First Trust India NIFTY 50 Equal Weight ETF Stock Performance

The firm’s 50-day simple moving average is $60.86 and its 200-day simple moving average is $58.23. The company has a market capitalization of $250.99 million, a price-to-earnings ratio of 24.18 and a beta of 0.72.

First Trust India NIFTY 50 Equal Weight ETF Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 27th were given a dividend of $0.0612 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date was Thursday, June 27th.

Hedge Funds Weigh In On First Trust India NIFTY 50 Equal Weight ETF

Several large investors have recently added to or reduced their stakes in the company. Clarus Wealth Advisors lifted its holdings in shares of First Trust India NIFTY 50 Equal Weight ETF by 3.1% during the 2nd quarter. Clarus Wealth Advisors now owns 6,517 shares of the company’s stock worth $399,000 after acquiring an additional 196 shares during the period. Purus Wealth Management LLC lifted its stake in First Trust India NIFTY 50 Equal Weight ETF by 0.8% during the second quarter. Purus Wealth Management LLC now owns 34,011 shares of the company’s stock worth $2,050,000 after purchasing an additional 266 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in First Trust India NIFTY 50 Equal Weight ETF by 5.5% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 9,613 shares of the company’s stock valued at $548,000 after purchasing an additional 504 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in First Trust India NIFTY 50 Equal Weight ETF by 10.2% during the first quarter. Commonwealth Equity Services LLC now owns 13,807 shares of the company’s stock valued at $786,000 after purchasing an additional 1,276 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its stake in shares of First Trust India NIFTY 50 Equal Weight ETF by 4.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 40,738 shares of the company’s stock valued at $2,320,000 after purchasing an additional 1,555 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.