SP Funds S&P 500 Sharia Industry Exclusions ETF (NYSEARCA:SPUS) Sees Large Volume Increase – Should You Buy?

Shares of SP Funds S&P 500 Sharia Industry Exclusions ETF (NYSEARCA:SPUS) saw unusually-high trading volume on Monday . 383,957 shares were traded during mid-day trading, a decline of 32% from the previous session’s volume of 566,751 shares.The stock last traded at $59.06 and had previously closed at $59.16.

SP Funds S&P 500 Sharia Industry Exclusions ETF Stock Down 0.1%

The company has a fifty day simple moving average of $57.09 and a 200-day simple moving average of $53.81. The firm has a market cap of $3.01 billion, a P/E ratio of 30.44 and a beta of 1.09.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP purchased a new position in SP Funds S&P 500 Sharia Industry Exclusions ETF during the second quarter valued at approximately $1,674,000. Farther Finance Advisors LLC increased its stake in shares of SP Funds S&P 500 Sharia Industry Exclusions ETF by 14.1% in the fourth quarter. Farther Finance Advisors LLC now owns 115,189 shares of the company’s stock worth $5,883,000 after purchasing an additional 14,261 shares in the last quarter. Evansbrook LLC purchased a new stake in shares of SP Funds S&P 500 Sharia Industry Exclusions ETF in the first quarter worth $243,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in shares of SP Funds S&P 500 Sharia Industry Exclusions ETF during the 4th quarter valued at $102,000.

About SP Funds S&P 500 Sharia Industry Exclusions ETF

The SP Funds S&P 500 Sharia Industry Exclusions ETF (SPUS) is an exchange-traded fund that is based on the S&P 500 Shariah Industry Exclusions index. The fund tracks a market-cap weighted index of S&P 500 stocks that are Sharia-compliant. SPUS was launched on Dec 18, 2019 and is managed by SP Funds.