Wahed FTSE USA Shariah ETF (NASDAQ:HLAL) Short Interest Down 70.2% in March

Wahed FTSE USA Shariah ETF (NASDAQ:HLAL) was the target of a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 31,119 shares, a drop of 70.2% from the February 26th total of 104,564 shares. Based on an average daily volume of 73,488 shares, the short-interest ratio is currently 0.4 days. Currently, 0.3% of the company’s shares are sold short.

Hedge Funds Weigh In On Wahed FTSE USA Shariah ETF

Hedge funds have recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp purchased a new position in shares of Wahed FTSE USA Shariah ETF during the 4th quarter valued at about $93,000. Strategic Blueprint LLC bought a new position in Wahed FTSE USA Shariah ETF during the fourth quarter valued at approximately $201,000. Finally, Farther Finance Advisors LLC grew its position in Wahed FTSE USA Shariah ETF by 1.7% during the third quarter. Farther Finance Advisors LLC now owns 35,695 shares of the company’s stock valued at $2,118,000 after acquiring an additional 605 shares during the last quarter.

Wahed FTSE USA Shariah ETF Price Performance

Shares of Wahed FTSE USA Shariah ETF stock traded down $1.30 during trading hours on Thursday, hitting $58.84. 53,341 shares of the company’s stock traded hands, compared to its average volume of 70,287. Wahed FTSE USA Shariah ETF has a 12-month low of $42.10 and a 12-month high of $64.19. The company has a fifty day simple moving average of $62.23 and a 200-day simple moving average of $61.35. The stock has a market capitalization of $691.37 million, a price-to-earnings ratio of 26.06 and a beta of 1.00.

Wahed FTSE USA Shariah ETF Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Thursday, March 26th will be paid a $0.077 dividend. This represents a $0.31 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Thursday, March 26th.

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.