SP Funds S&P Global REIT Sharia ETF (NYSEARCA:SPRE) Sees Large Decrease in Short Interest

SP Funds S&P Global REIT Sharia ETF (NYSEARCA:SPRE) was the recipient of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totaling 21,071 shares, a decrease of 44.8% from the September 30th total of 38,197 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 65,707 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in SP Funds S&P Global REIT Sharia ETF stock. Farther Finance Advisors LLC raised its stake in SP Funds S&P Global REIT Sharia ETF (NYSEARCA:SPRE) by 18.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,916 shares of the company’s stock after buying an additional 2,892 shares during the period. Farther Finance Advisors LLC owned about 0.18% of SP Funds S&P Global REIT Sharia ETF worth $358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

SP Funds S&P Global REIT Sharia ETF Trading Down 0.6%

Shares of SPRE stock traded down $0.12 on Friday, reaching $18.58. 49,944 shares of the company’s stock were exchanged, compared to its average volume of 72,387. The company’s fifty day simple moving average is $19.50 and its 200 day simple moving average is $20.52. SP Funds S&P Global REIT Sharia ETF has a 52 week low of $18.19 and a 52 week high of $21.91. The stock has a market capitalization of $196.95 million, a PE ratio of 36.50 and a beta of 1.01.

SP Funds S&P Global REIT Sharia ETF Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Wednesday, October 28th. Stockholders of record on Tuesday, October 27th were paid a dividend of $0.0670 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Tuesday, October 27th.

About SP Funds S&P Global REIT Sharia ETF

The SP Funds S&P Global REIT Sharia ETF (SPRE) is an exchange-traded fund that mostly invests in real estate equity. The fund tracks a market-cap-weighted index of Shariah-compliant global REITs. SPRE was launched on Dec 30, 2020 and is managed by SP Funds.