Wahed FTSE USA Shariah ETF (NASDAQ:HLAL) Sees Significant Decrease in Short Interest

Wahed FTSE USA Shariah ETF (NASDAQ:HLAL) saw a large decrease in short interest in the month of May. As of May 15th, there was short interest totaling 71,746 shares, a decrease of 38.2% from the April 30th total of 116,168 shares. Approximately 0.6% of the shares of the company are sold short. Based on an average daily volume of 74,192 shares, the days-to-cover ratio is presently 1.0 days.

Institutional Trading of Wahed FTSE USA Shariah ETF

A hedge fund recently bought a new stake in Wahed FTSE USA Shariah ETF stock. Strategic Blueprint LLC bought a new position in shares of Wahed FTSE USA Shariah ETF (NASDAQ:HLAL) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,242 shares of the company’s stock, valued at approximately $201,000.

Wahed FTSE USA Shariah ETF Stock Performance

Shares of HLAL stock opened at $73.14 on Wednesday. The firm’s 50-day moving average is $65.72 and its 200-day moving average is $63.47. The stock has a market cap of $897.43 million, a price-to-earnings ratio of 26.06 and a beta of 1.01. Wahed FTSE USA Shariah ETF has a 52-week low of $51.08 and a 52-week high of $73.60.

Wahed FTSE USA Shariah ETF Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Thursday, March 26th were issued a dividend of $0.077 per share. The ex-dividend date of this dividend was Thursday, March 26th. This represents a $0.31 annualized dividend and a dividend yield of 0.4%.

About Wahed FTSE USA Shariah ETF

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.