Wahed Dow Jones Islamic World ETF (NASDAQ:UMMA) Sees Large Drop in Short Interest

Posted by Cheyenne Larson on Nov 16th, 2024

Wahed Dow Jones Islamic World ETF (NASDAQ:UMMA – Get Free Report) saw a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 15,700 shares, a decline of 23.0% from the October 15th total of 20,400 shares. Based on an average trading volume of 25,500 shares, the short-interest ratio is presently 0.6 days.

Hedge Funds Weigh In On Wahed Dow Jones Islamic World ETF

An institutional investor recently raised its position in Wahed Dow Jones Islamic World ETF stock. Farther Finance Advisors LLC grew its holdings in Wahed Dow Jones Islamic World ETF (NASDAQ:UMMA – Free Report) by 48.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,617 shares of the company’s stock after buying an additional 3,488 shares during the period. Farther Finance Advisors LLC owned approximately 0.24% of Wahed Dow Jones Islamic World ETF worth $271,000 as of its most recent filing with the Securities & Exchange Commission.

Wahed Dow Jones Islamic World ETF Stock Performance

Shares of NASDAQ UMMA opened at $23.88 on Friday. The company has a market cap of $107.46 million, a P/E ratio of 20.60 and a beta of 1.03. The firm’s fifty day moving average is $25.01 and its two-hundred day moving average is $24.82. Wahed Dow Jones Islamic World ETF has a 52-week low of $21.29 and a 52-week high of $26.44.

Wahed Dow Jones Islamic World ETF Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Thursday, September 26th were paid a $0.145 dividend. This is a boost from Wahed Dow Jones Islamic World ETF’s previous quarterly dividend of $0.01. This represents a $0.58 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend was Thursday, September 26th.

Wahed Dow Jones Islamic World ETF Company Profile

(Get Free Report)

The Wahed Dow Jones Islamic World ETF (UMMA) is an exchange-traded fund that mostly invests in large cap equity. The fund is an actively managed fund of global ex-US securities that are determined to be Shariah-compliant based on business activities and accounting criteria. Holdings are also screened to assess ESG risks.