Short Interest in Wahed FTSE USA Shariah ETF (NASDAQ:HLAL) Declines By 70.2%

Wahed FTSE USA Shariah ETF (NASDAQ:HLAL) saw a significant decrease in short interest during the month of March. As of March 13th, there was short interest totaling 31,119 shares, a decrease of 70.2% from the February 26th total of 104,564 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average trading volume of 73,488 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of HLAL. Farther Finance Advisors LLC boosted its stake in shares of 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 purchasing an additional 605 shares during the period. Strategic Blueprint LLC bought a new stake in Wahed FTSE USA Shariah ETF during the 4th quarter valued at $201,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in shares of Wahed FTSE USA Shariah ETF in the 4th quarter valued at about $93,000.

Wahed FTSE USA Shariah ETF Stock Down 1.6%

HLAL traded down $0.93 during trading on Friday, hitting $57.91. The company’s stock had a trading volume of 61,371 shares, compared to its average volume of 70,137. The firm has a market cap of $680.44 million, a PE ratio of 26.06 and a beta of 1.00. The business’s 50 day simple moving average is $62.13 and its 200-day simple moving average is $61.35. Wahed FTSE USA Shariah ETF has a one year low of $42.10 and a one year high of $64.19.

Wahed FTSE USA Shariah ETF Cuts Dividend

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

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.