Invesco India ETF (NYSEARCA:PIN) Stock Price Down 2.1% – Here’s Why

Invesco India ETF (NYSEARCA:PIN)’s stock price was down 2.1% during trading on Monday . The company traded as low as $20.40 and last traded at $20.40. Approximately 19,740 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 50,088 shares. The stock had previously closed at $20.83.

Invesco India ETF Price Performance

The company has a market cap of $154.84 million, a PE ratio of 26.32 and a beta of 0.47. The business has a fifty day simple moving average of $22.98 and a two-hundred day simple moving average of $24.67.

Institutional Investors Weigh In On Invesco India ETF

A number of hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE grew its stake in Invesco India ETF by 19.4% in the third quarter. Bank of America Corp DE now owns 703,034 shares of the company’s stock valued at $17,625,000 after purchasing an additional 114,064 shares during the last quarter. Flow Traders U.S. LLC purchased a new stake in shares of Invesco India ETF during the third quarter valued at about $2,268,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Invesco India ETF by 2,376.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 85,497 shares of the company’s stock valued at $2,078,000 after buying an additional 82,045 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Invesco India ETF in the 1st quarter valued at about $1,117,000. Finally, Citadel Advisors LLC boosted its holdings in shares of Invesco India ETF by 130.2% in the 3rd quarter. Citadel Advisors LLC now owns 48,182 shares of the company’s stock valued at $1,208,000 after buying an additional 27,247 shares in the last quarter. 40.83% of the stock is currently owned by hedge funds and other institutional investors.

Invesco India ETF Company Profile

PowerShares India Portfolio (the Fund) is based on the Indus India Index (Index). The Fund seeks to achieve its investment objective by investing substantially all of its assets in a wholly-owned subsidiary located in the Republic of Mauritius (the Subsidiary), which in turn invests at least 90% of its total assets in securities of Indian companies that consists of the Index, as well as American depositary receipts(ADR) and global depositary receipts (GDR) based on the securities in the Index. The Index is designed to represent the segment of the Indian equity markets.