Wahed Dow Jones Islamic World ETF (NASDAQ:UMMA) Shares Shorted: Short Interest Up 602.2% in September

Wahed Dow Jones Islamic World ETF (NASDAQ:UMMA) saw a significant growth in short interest in September. As of September 15th, there was short interest totaling 113,451 shares, a growth of 602.2% from the August 31st total of 16,156 shares. Currently, 1.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 40,755 shares, the short-interest ratio is currently 2.8 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Wahed Dow Jones Islamic World ETF stock. Valeo Financial Advisors LLC purchased a new stake in shares of Wahed Dow Jones Islamic World ETF (NASDAQ:UMMA) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,502 shares of the company’s stock, valued at approximately $336,000. Valeo Financial Advisors LLC owned approximately 0.11% of Wahed Dow Jones Islamic World ETF as of its most recent SEC filing.

Wahed Dow Jones Islamic World ETF Stock Up 0.8%

NASDAQ UMMA traded up $0.31 during trading on Friday, hitting $37.16. 48,853 shares of the stock traded hands, compared to its average volume of 49,637. The company has a market capitalization of $297.28 million, a P/E ratio of 23.30 and a beta of 1.04. The firm has a 50-day simple moving average of $36.91 and a 200-day simple moving average of $35.86. Wahed Dow Jones Islamic World ETF has a 12-month low of $26.98 and a 12-month high of $41.53.

Wahed Dow Jones Islamic World ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Thursday, September 24th were given a dividend of $0.1510 per share. The ex-dividend date was Thursday, September 24th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.6%. This is an increase from Wahed Dow Jones Islamic World ETF’s previous quarterly dividend of $0.0040.

About Wahed Dow Jones Islamic World ETF

The Wahed Dow Jones Islamic World ETF (UMMA) is an exchange-traded fund that mostly invests in large cap equity. The fund is an actively managed fund of global ex-US securities that are determined to be Shariah-compliant based on business activities and accounting criteria. Holdings are also screened to assess ESG risks. UMMA was launched on Jan 7, 2022 and is managed by Wahed.