iShares India 50 ETF (NASDAQ:INDY) Sees Unusually-High Trading Volume – Still a Buy?

Shares of iShares India 50 ETF (NASDAQ:INDY) saw unusually-high trading volume on Wednesday. 145,061 shares changed hands during mid-day trading, an increase of 3% from the average daily volume of 140,179 shares. The stock last traded at $45.9480 and had previously closed at $46.21.

iShares India 50 ETF Stock Performance

The company has a market capitalization of $597.80 million, a price-to-earnings ratio of 19.68 and a beta of 0.45. The firm’s 50-day simple moving average is $42.28 and its 200-day simple moving average is $43.62.

Hedge Funds Weigh In On iShares India 50 ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its position in shares of iShares India 50 ETF by 293.1% in the 1st quarter. Bank of America Corp DE now owns 171,080 shares of the company’s stock worth $7,226,000 after acquiring an additional 127,557 shares during the period. Banque Pictet & Cie SA bought a new stake in iShares India 50 ETF in the 3rd quarter valued at $1,228,000. Royal Bank of Canada lifted its holdings in shares of iShares India 50 ETF by 6.8% during the 1st quarter. Royal Bank of Canada now owns 119,488 shares of the company’s stock worth $5,046,000 after acquiring an additional 7,579 shares during the period. Private Advisory Group LLC bought a new position in shares of iShares India 50 ETF during the 3rd quarter worth about $8,234,000. Finally, Brighton Jones LLC bought a new position in shares of iShares India 50 ETF during the 3rd quarter worth about $358,000.

About iShares India 50 ETF

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.