Steward Partners Reduces Stake in iShares India 50 ETF

Steward Partners Investment Advisory LLC has reduced its holding in the iShares India 50 ETF (NASDAQ:INDY) by 29.1% during the fourth quarter, according to reports from Holdings Channel. After selling 520 shares, the institutional investor now owns 1,268 shares of the ETF. As per the latest filing with the SEC, Steward Partners' total holdings in iShares India 50 ETF are valued at approximately $64,000.

In addition to Steward Partners, several other hedge funds have made adjustments to their positions in the iShares India 50 ETF. For instance, JPMorgan Chase & Co. increased its stake in the ETF by a staggering 190.6% in the third quarter, bringing its total ownership to 808 shares worth about $46,000 after acquiring an additional 530 shares recently. Meanwhile, BOCHK Asset Management Ltd. entered a new position in the ETF during the fourth quarter, with an investment estimated around $102,000.

Moreover, Jones Financial Companies Lllp raised its stake by an impressive 77.1% during the same quarter, leading to ownership of 3,557 shares valued at about $181,000. KFA Private Wealth Group LLC also purchased new shares, with an investment approximated at $217,000. HighTower Advisors LLC established a new position in the third quarter, holding shares worth around $229,000.

Performance of iShares India 50 ETF

iShares India 50 ETF saw a modest increase, opening at $49.10 recently. The ETF has recorded a 12-month low of $46.93 and a high of $57.30. The market capitalization of the fund stands at $687.40 million, with a price-to-earnings (PE) ratio of 21.11 and a beta of 0.78. The ETF has also noted a 50-day moving average price of $49.11 and a 200-day moving average of $52.02.

About iShares India 50 ETF

The iShares India 50 ETF, which was formerly known as the iShares S&P India Nifty 50 Index Fund, aims to achieve investment results that are closely aligned with the performance of the S&P CNX Nifty Index. This index reflects the equity performance of the top 50 companies based on market capitalization that are traded in the Indian market.

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investment, ETF, India