NBW Capital Boosts Investment in iShares MSCI India ETF by 4.8%

NBW Capital LLC has increased its stake in the iShares MSCI India ETF (BATS:INDA) by 4.8% during the second quarter of 2023. According to the company’s latest filing with the Securities and Exchange Commission, NBW Capital now holds 68,771 shares of the ETF after acquiring an additional 3,173 shares during this period. The total value of its holdings in the iShares MSCI India ETF is approximately $3,829,000 at the end of the most recent quarter.

Several other institutional investors have also adjusted their positions in the iShares MSCI India ETF. M&T Bank Corp increased its holdings by 7.2%, now owning 351,070 shares valued at $19,548,000 after adding 23,545 shares during the quarter. Similarly, Riverview Capital Advisers LLC raised its stake by 2.3%, bringing its total to 25,926 shares worth $1,444,000 following the purchase of 572 additional shares.

Sun Life Financial Inc. also enhanced its position in the ETF by 3.2%, now holding 316,000 shares valued at $17,595,000, thanks to the acquisition of 9,900 shares. Additionally, Panagora Asset Management Inc. made a significant move, increasing its stake by an impressive 273.5%, now owning 1,405,164 shares worth $78,240,000 after purchasing 1,028,967 shares.

Market Performance of iShares MSCI India ETF

As of Tuesday, shares of the iShares MSCI India ETF opened at $54.31, reflecting a 6.6% increase. The ETF, which has a market capitalization of $9.43 billion, features a price-to-earnings (P/E) ratio of 25.20 and a beta of 0.48. The fund’s 50-day moving average price stands at $53.83, while the 200-day moving average price is $53.90. Over the past year, the ETF has faced volatility, registering a twelve-month low of $47.60 and a high of $59.49.

The iShares MSCI India ETF, launched on February 2, 2012, is designed to track the performance of the MSCI India Index. This index represents the top 85% of firms in the Indian securities market, making the ETF a popular choice for investors looking to gain exposure to India’s burgeoning economy. The fund is managed by BlackRock, a major player in the investment management industry.

As the interest in the iShares MSCI India ETF grows among institutional investors, it reflects a broader trend of increasing confidence in the Indian market. Investor sentiment is likely influenced by India’s economic resilience and growth potential, which present opportunities for significant returns in the long term.

In summary, the strategic moves by NBW Capital and other institutional investors highlight the increasing interest in the iShares MSCI India ETF, as they seek to capitalize on the growth dynamics of the Indian economy amidst a global investment landscape that continues to evolve.