Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) Shares Gap Up – Here’s Why

Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $17.60, but opened at $18.90. Market Vectors Indian Rupee/USD ETN shares last traded at $18.16, with a volume of 63,565 shares trading hands.

Analysts Set New Price Targets

INR has been the topic of several analyst reports. Roth Mkm upped their target price on shares of Market Vectors Indian Rupee/USD ETN from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, December 9th. KeyCorp reduced their price target on shares of Market Vectors Indian Rupee/USD ETN from $22.00 to $19.00 and set an “overweight” rating for the company in a research report on Wednesday, November 12th.

Market Vectors Indian Rupee/USD ETN Price Performance

The business’s 50 day moving average price is $15.71 and its 200 day moving average price is $14.18. The stock has a market capitalization of $1.10 billion, a P/E ratio of -41.09 and a beta of 0.22.

Insider Buying and Selling

In related news, Director David P. Poole bought 8,646 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was acquired at an average cost of $12.94 per share, for a total transaction of $111,879.24. Following the purchase, the director owned 16,146 shares in the company, valued at approximately $208,929.24. This represents a 115.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Hedge Funds Weigh In On Market Vectors Indian Rupee/USD ETN

An institutional investor recently bought a new position in Market Vectors Indian Rupee/USD ETN stock. Chung Wu Investment Group LLC acquired a new position in Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,600 shares of the company’s stock, valued at approximately $38,000.

Market Vectors Indian Rupee/USD ETN Company Profile

International Consolidated Airlines Group, SA, together with its subsidiaries, engages in the provision of passenger and cargo transportation services in the United Kingdom, Spain, Ireland, the United States, and rest of the world. The company operates under the British Airways, Iberia, Vueling, Aer Lingus, and LEVEL brands. It operates a fleet of 533 aircraft flying to 279 destinations. International Consolidated Airlines Group, SA, was incorporated in 2009 and is based in Madrid, Spain.