Invesco India ETF (NYSEARCA:PIN) Trading Up 0.8% – Here’s Why

Invesco India ETF (NYSEARCA:PIN)’s share price rose 0.8% during mid-day trading on Tuesday . The stock traded as high as $20.72 and last traded at $20.61. Approximately 23,891 shares traded hands during trading, a decline of 52% from the average session volume of 50,088 shares. The stock had previously closed at $20.4393.

Invesco India ETF Price Performance

The stock has a market capitalization of $156.43 million, a P/E ratio of 26.32 and a beta of 0.47. The stock’s 50 day moving average price is $20.62 and its 200-day moving average price is $21.37.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PIN. Clare Market Investments LLC acquired a new position in Invesco India ETF during the first quarter worth $625,000. Northwestern Mutual Wealth Management Co. boosted its stake 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 acquiring an additional 82,045 shares during the last quarter. OLD Mission Capital LLC purchased a new stake in shares of Invesco India ETF during the fourth quarter worth about $405,000. Envestnet Asset Management Inc. grew its stake in Invesco India ETF by 13.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 17,508 shares of the company’s stock worth $439,000 after acquiring an additional 2,084 shares during the period. Finally, Commonwealth Equity Services LLC grew its position in shares of Invesco India ETF by 9.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 32,830 shares of the company’s stock valued at $798,000 after purchasing an additional 2,842 shares during the period. 40.83% of the stock is currently owned by institutional investors and hedge funds.

About Invesco India ETF

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.