Wahed FTSE USA Shariah ETF (NASDAQ:HLAL) Short Interest Update

Wahed FTSE USA Shariah ETF (NASDAQ:HLAL) saw a large growth in short interest in 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. Approximately 2.1% of the shares of the company are sold short. Based on an average trading volume of 81,600 shares, the days-to-cover ratio is currently 2.9 days.

Wahed FTSE USA Shariah ETF Stock Performance

Shares of NASDAQ:HLAL traded down $1.18 during trading on Friday, hitting $48.66. 51,087 shares of the stock were exchanged, compared to its average volume of 68,066. The company has a market capitalization of $540.13 million, a price-to-earnings ratio of 25.91 and a beta of 1.05. Wahed FTSE USA Shariah ETF has a 1-year low of $45.80 and a 1-year high of $55.15. The company’s fifty day simple moving average is $52.09 and its 200-day simple moving average is $52.37.

Wahed FTSE USA Shariah ETF Cuts Dividend

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

Hedge Funds Weigh In On Wahed FTSE USA Shariah ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in HLAL. Valeo Financial Advisors LLC increased its stake in Wahed FTSE USA Shariah ETF by 2.8% in the fourth quarter. Valeo Financial Advisors LLC now owns 10,639 shares of the company’s stock valued at $561,000 after acquiring an additional 288 shares during the period. United Capital Financial Advisors LLC boosted its holdings in Wahed FTSE USA Shariah ETF by 10.4% during the fourth 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 in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of Wahed FTSE USA Shariah ETF by 2.3% in the 4th quarter. Farther Finance Advisors LLC now owns 40,077 shares of the company’s stock valued at $2,114,000 after purchasing an additional 895 shares during the period.

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.