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

Invesco India ETF (NYSEARCA:PIN)’s stock price shot up 0.8% during trading on Tuesday . The company traded as high as $20.72 and last traded at $20.61. 23,891 shares were traded during trading, a decline of 52% from the average daily volume of 50,088 shares. The stock had previously closed at $20.4393.

Invesco India ETF Stock Performance

The firm has a market cap of $156.43 million, a PE ratio of 26.32 and a beta of 0.47. The company’s 50-day simple moving average is $20.67 and its two-hundred day simple moving average is $21.71.

Hedge Funds Weigh In On Invesco India ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. Fifth Third Bancorp bought a new stake in shares of Invesco India ETF in the first quarter worth about $25,000. Allworth Financial LP purchased a new position in Invesco India ETF during the 3rd quarter valued at about $36,000. Advisory Services Network LLC bought a new position in Invesco India ETF during the 3rd quarter valued at approximately $38,000. Steward Partners Investment Advisory LLC raised its position in Invesco India ETF by 491.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,923 shares of the company’s stock valued at $47,000 after purchasing an additional 1,598 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in Invesco India ETF by 211.0% in the 4th quarter. Farther Finance Advisors LLC now owns 2,550 shares of the company’s stock worth $62,000 after buying an additional 1,730 shares during the period. 40.83% of the stock is owned by institutional investors.

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.