iShares India 50 ETF (NASDAQ:INDY) Reaches New 52-Week Low – Here’s Why

iShares India 50 ETF (NASDAQ:INDY)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $41.82 and last traded at $41.93, with a volume of 161710 shares changing hands. The stock had previously closed at $43.01.

iShares India 50 ETF Trading Down 2.6%

The company has a market cap of $548.89 million, a price-to-earnings ratio of 23.21 and a beta of 0.45. The company has a fifty day moving average price of $46.65 and a two-hundred day moving average price of $49.99.

Institutional Investors Weigh In On iShares India 50 ETF

Several institutional investors and hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its stake in shares of iShares India 50 ETF by 11.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,859 shares of the company’s stock valued at $95,000 after buying an additional 198 shares in the last quarter. Creative Planning increased its stake in iShares India 50 ETF by 1.1% in the second quarter. Creative Planning now owns 24,888 shares of the company’s stock valued at $1,353,000 after acquiring an additional 260 shares during the period. Carret Asset Management LLC increased its stake in iShares India 50 ETF by 2.1% in the fourth quarter. Carret Asset Management LLC now owns 12,784 shares of the company’s stock valued at $630,000 after acquiring an additional 260 shares during the period. Webster Bank N. A. raised its position in iShares India 50 ETF by 9.9% in the fourth quarter. Webster Bank N. A. now owns 3,390 shares of the company’s stock worth $167,000 after purchasing an additional 305 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in iShares India 50 ETF by 7.5% in the fourth quarter. NewEdge Advisors LLC now owns 4,448 shares of the company’s stock worth $219,000 after purchasing an additional 312 shares in the last quarter.

iShares India 50 ETF Company Profile

iShares India 50 ETF, formerly iShares S&P India Nifty 50 Index Fund, seeks investment results that correspond generally to the price and yield performance of the S&P CNX Nifty Index (the Index). The Index measures the equity performance of the top 50 companies by market capitalization that trade in the Indian market. The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.