India Internet & Ecommerce ETF (NYSEARCA:INQQ) Trading Down 1.8% – Should You Sell?

India Internet & Ecommerce ETF (NYSEARCA:INQQ) shares dropped 1.8% during trading on Friday . The stock traded as low as $14.13 and last traded at $14.15. Approximately 30,749 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 60,122 shares. The stock had previously closed at $14.41.

India Internet & Ecommerce ETF Stock Down 1.8 %

The company’s fifty day simple moving average is $15.34 and its 200 day simple moving average is $15.90. The firm has a market capitalization of $59.29 million, a PE ratio of 36.73 and a beta of 0.69.

Institutional Trading of India Internet & Ecommerce ETF

Institutional investors and hedge funds have recently bought and sold shares of the stock. Beck Capital Management LLC purchased a new stake in India Internet & Ecommerce ETF in the third quarter worth about $214,000. Ameriprise Financial Inc. purchased a new position in shares of India Internet & Ecommerce ETF during the fourth quarter valued at approximately $689,000. Finally, ORG Partners LLC lifted its holdings in shares of India Internet & Ecommerce ETF by 15.6% during the fourth quarter. ORG Partners LLC now owns 71,246 shares of the company’s stock valued at $1,153,000 after purchasing an additional 9,599 shares during the last quarter.

About India Internet & Ecommerce ETF

The India Internet & Ecommerce ETF (INQQ) is an exchange-traded fund that is based on the INQQ The India Internet & Ecommerce index. The fund tracks an index of companies centered around the internet and e-commerce technology in India. Securities are selected and weighted by market-cap. INQQ was launched on Apr 6, 2022 and is managed by India.