Merit Financial Group LLC Invests $3.20 Million in First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY)

Merit Financial Group LLC bought a new stake in First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 57,101 shares of the company’s stock, valued at approximately $3,197,000. Merit Financial Group LLC owned approximately 1.18% of First Trust India NIFTY 50 Equal Weight ETF as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NFTY. CNB Bank purchased a new stake in shares of First Trust India NIFTY 50 Equal Weight ETF during the third quarter valued at approximately $42,000. Wealth Enhancement Advisory Services LLC acquired a new stake in First Trust India NIFTY 50 Equal Weight ETF during the 3rd quarter valued at $205,000. NBC Securities Inc. increased its stake in First Trust India NIFTY 50 Equal Weight ETF by 36.6% during the 3rd quarter. NBC Securities Inc. now owns 3,790 shares of the company’s stock worth $245,000 after buying an additional 1,016 shares during the period. Synovus Financial Corp boosted its position in First Trust India NIFTY 50 Equal Weight ETF by 12.5% in the 3rd quarter. Synovus Financial Corp now owns 3,848 shares of the company’s stock valued at $250,000 after buying an additional 427 shares during the last quarter. Finally, Gentry Private Wealth LLC acquired a new stake in shares of First Trust India NIFTY 50 Equal Weight ETF during the third quarter valued at about $257,000.

First Trust India NIFTY 50 Equal Weight ETF Stock Performance

Shares of NASDAQ NFTY opened at $55.00 on Monday. First Trust India NIFTY 50 Equal Weight ETF has a 1 year low of $53.37 and a 1 year high of $65.90. The stock’s 50-day simple moving average is $57.44 and its 200-day simple moving average is $60.52. The firm has a market cap of $261.25 million, a price-to-earnings ratio of 24.18 and a beta of 0.72.

First Trust India NIFTY 50 Equal Weight ETF Announces Dividend

The firm also recently announced a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a $0.7608 dividend. The ex-dividend date was Friday, December 13th.

About First Trust India NIFTY 50 Equal Weight ETF

The First Trust India NIFTY 50 Equal Weight ETF (NFTY) is an exchange-traded fund that is based on the NIFTY 50 Equal Weight index. The fund tracks an equally weighted index of the 50 largest and most liquid Indian equity securities. NFTY was launched on Feb 14, 2012 and is managed by First Trust.