Columbia India Consumer ETF (NYSEARCA:INCO) Sees Large Decline in Short Interest

Columbia India Consumer ETF (NYSEARCA:INCO) saw a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 35,723 shares, a drop of 66.9% from the May 14th total of 107,975 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average daily volume of 22,125 shares, the days-to-cover ratio is presently 1.6 days.

Institutional Investors Weigh In On Columbia India Consumer ETF

Several hedge funds and other institutional investors have recently made changes to their positions in INCO. Sankala Group LLC acquired a new stake in shares of Columbia India Consumer ETF in the fourth quarter valued at about $50,000. Geneos Wealth Management Inc. grew its position in Columbia India Consumer ETF by 200.0% during the first quarter. Geneos Wealth Management Inc. now owns 900 shares of the company’s stock worth $54,000 after buying an additional 600 shares in the last quarter. Flagship Wealth Advisors LLC acquired a new stake in Columbia India Consumer ETF during the first quarter worth about $66,000. Northwestern Mutual Wealth Management Co. grew its position in Columbia India Consumer ETF by 366.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,218 shares of the company’s stock worth $79,000 after buying an additional 957 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in Columbia India Consumer ETF during the fourth quarter worth about $118,000.

Columbia India Consumer ETF Stock Performance

Shares of NYSEARCA:INCO traded up $0.21 during midday trading on Friday, hitting $57.68. The company’s stock had a trading volume of 11,199 shares, compared to its average volume of 46,923. The stock has a market capitalization of $230.72 million, a price-to-earnings ratio of 39.45 and a beta of 0.45. The stock’s 50 day simple moving average is $58.31 and its 200 day simple moving average is $60.81. Columbia India Consumer ETF has a fifty-two week low of $53.19 and a fifty-two week high of $68.02.

Columbia India Consumer ETF Company Profile

The Columbia India Consumer ETF (INCO) is an exchange-traded fund that is based on the INDXX India Consumer index, a market-cap-weighted index of 30 Indian consumer-sector stocks listed on the National Stock Exchange or the Bombay Stock Exchange. INCO was launched on Aug 10, 2011 and is managed by Columbia.