Mon Sep 23 22:19:06 UTC 2024: ## iShares MSCI India ETF (INDA) Hits New 52-Week High, Driven by Institutional Interest
**New York, NY – September 23, 2024** – Shares of the iShares MSCI India ETF (INDA) surged to a new 52-week high during Monday’s trading session, reaching $59.24 before closing at $59.17. The ETF, which tracks the MSCI India index, represents the top 85% of firms in the Indian securities market.
The surge in INDA’s price can be attributed to a combination of factors, including growing investor interest in the Indian economy and a recent uptick in institutional investment.
Several hedge funds and institutional investors increased their holdings in INDA during the fourth quarter, indicating a positive outlook on the Indian market. Notable investors include Principal Securities Inc., PNC Financial Services Group Inc., Cambridge Investment Research Advisors Inc., US Bancorp DE, and FineMark National Bank & Trust.
INDA boasts a market cap of $10.93 billion, a PE ratio of 28.95, and a beta of 0.51. The ETF’s 50-day simple moving average is $56.78, while its 200-day simple moving average is $54.36.
Launched on February 2, 2012, and managed by BlackRock, INDA provides investors with a convenient way to gain exposure to the Indian market.
First Piper 