Wahed FTSE USA Shariah ETF (NASDAQ:HLAL) Short Interest Up 62.8% in March

Wahed FTSE USA Shariah ETF (NASDAQ:HLAL) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 235,400 shares, a growth of 62.8% from the February 28th total of 144,600 shares. Based on an average daily trading volume, of 81,600 shares, the days-to-cover ratio is presently 2.9 days. Approximately 2.1% of the company’s shares are sold short.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HLAL. Valeo Financial Advisors LLC boosted its position in Wahed FTSE USA Shariah ETF by 2.8% in the 4th quarter. Valeo Financial Advisors LLC now owns 10,639 shares of the company’s stock valued at $561,000 after buying an additional 288 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Wahed FTSE USA Shariah ETF by 2.3% in the fourth quarter. Farther Finance Advisors LLC now owns 40,077 shares of the company’s stock valued at $2,114,000 after acquiring an additional 895 shares in the last quarter. Finally, United Capital Financial Advisors LLC boosted its holdings in Wahed FTSE USA Shariah ETF by 10.4% in the fourth quarter. United Capital Financial Advisors LLC now owns 4,969 shares of the company’s stock valued at $262,000 after purchasing an additional 470 shares during the period.

Wahed FTSE USA Shariah ETF Trading Down 0.4 %

HLAL traded down $0.17 during mid-day trading on Monday, hitting $48.49. 37,640 shares of the stock were exchanged, compared to its average volume of 67,948. The firm’s fifty day moving average is $52.09 and its two-hundred day moving average is $52.40. Wahed FTSE USA Shariah ETF has a 1-year low of $45.80 and a 1-year high of $55.15. The company has a market cap of $538.23 million, a PE ratio of 25.91 and a beta of 1.05.

Wahed FTSE USA Shariah ETF Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 26th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Wednesday, March 26th.

Wahed FTSE USA Shariah ETF Company Profile

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.