Short Interest in Wahed FTSE USA Shariah ETF (NASDAQ:HLAL) Rises By 62.8%

Wahed FTSE USA Shariah ETF (NASDAQ:HLAL) was the recipient of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 235,400 shares, a growth of 62.8% from the February 28th total of 144,600 shares. Based on an average daily volume of 81,600 shares, the short-interest ratio is currently 2.9 days. Approximately 2.1% of the company’s stock are sold short.

Hedge Funds Weigh In On Wahed FTSE USA Shariah ETF

Institutional investors and hedge funds have recently modified their holdings of the stock. United Capital Financial Advisors LLC grew its position in Wahed FTSE USA Shariah ETF by 10.4% during the 4th quarter. United Capital Financial Advisors LLC now owns 4,969 shares of the company’s stock valued at $262,000 after purchasing an additional 470 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Wahed FTSE USA Shariah ETF by 2.3% during the fourth quarter. Farther Finance Advisors LLC now owns 40,077 shares of the company’s stock valued at $2,114,000 after acquiring an additional 895 shares in the last quarter. Finally, Valeo Financial Advisors LLC raised its holdings in Wahed FTSE USA Shariah ETF by 2.8% in the 4th quarter. Valeo Financial Advisors LLC now owns 10,639 shares of the company’s stock worth $561,000 after acquiring an additional 288 shares during the last quarter.

Wahed FTSE USA Shariah ETF Stock Performance

Shares of HLAL traded down $0.17 during mid-day trading on Monday, reaching $48.49. The company had a trading volume of 37,640 shares, compared to its average volume of 67,948. Wahed FTSE USA Shariah ETF has a 52 week low of $45.80 and a 52 week high of $55.15. The company has a market capitalization of $538.23 million, a price-to-earnings ratio of 25.91 and a beta of 1.05. The firm has a 50-day moving average price of $52.09 and a 200 day moving average price of $52.40.

Wahed FTSE USA Shariah ETF Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 26th were paid a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, March 26th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.66%.

Wahed FTSE USA Shariah ETF Company Profile

The Wahed FTSE USA Shariah ETF (HLAL) is an exchange-traded fund that is based on the FTSE USA Shariah index, a principles-selected, market-cap-weighted index of US equities. HLAL was launched on Jul 16, 2019 and is managed by Wahed.