Short Interest in SP Funds S&P 500 Sharia Industry Exclusions ETF (NYSEARCA:SPUS) Drops By 40.5%

SP Funds S&P 500 Sharia Industry Exclusions ETF (NYSEARCA:SPUS) was the target of a significant decline in short interest in January. As of January 15th, there was short interest totaling 87,396 shares, a decline of 40.5% from the December 31st total of 146,897 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 429,531 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily trading volume, of 429,531 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.2% of the shares of the stock are sold short.

SP Funds S&P 500 Sharia Industry Exclusions ETF Stock Down 0.3%

Shares of NYSEARCA SPUS traded down $0.15 during midday trading on Friday, hitting $51.52. The stock had a trading volume of 129,749 shares, compared to its average volume of 489,293. SP Funds S&P 500 Sharia Industry Exclusions ETF has a 1 year low of $33.32 and a 1 year high of $52.43. The company has a market capitalization of $1.99 billion, a PE ratio of 30.44 and a beta of 1.04. The stock has a 50 day simple moving average of $51.28 and a 200-day simple moving average of $49.36.

SP Funds S&P 500 Sharia Industry Exclusions ETF Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, January 26th. Shareholders of record on Friday, January 23rd were issued a $0.026 dividend. The ex-dividend date of this dividend was Friday, January 23rd. This represents a c) dividend on an annualized basis and a yield of 0.6%. This is a boost from SP Funds S&P 500 Sharia Industry Exclusions ETF’s previous monthly dividend of $0.02.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SPUS. Marshall Wace LLP purchased a new stake in shares of SP Funds S&P 500 Sharia Industry Exclusions ETF in the second quarter valued at $1,674,000. Farther Finance Advisors LLC grew its holdings in shares of SP Funds S&P 500 Sharia Industry Exclusions ETF by 14.1% during the 4th 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 during the period. Jaffetilchin Investment Partners LLC grew its stake in SP Funds S&P 500 Sharia Industry Exclusions ETF by 69.8% during the second quarter. Jaffetilchin Investment Partners LLC now owns 12,682 shares of the company’s stock worth $563,000 after buying an additional 5,212 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new stake in SP Funds S&P 500 Sharia Industry Exclusions ETF during the 2nd quarter worth $207,000.

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.