Wahed Dow Jones Islamic World ETF (NASDAQ:UMMA) Shares Shorted: Short Interest Down 91.6% in October

Wahed Dow Jones Islamic World ETF (NASDAQ:UMMA) saw a large decrease in short interest in October. As of October 30th, there was short interest totaling 10,282 shares, a decrease of 91.6% from the October 15th total of 122,789 shares. Based on an average daily trading volume, of 54,782 shares, the short-interest ratio is presently 0.2 days. Currently, 0.1% of the company’s stock are sold short.

Wahed Dow Jones Islamic World ETF Stock Performance

Shares of NASDAQ UMMA opened at $34.84 on Friday. The company has a market cap of $297.84 million, a PE ratio of 17.11 and a beta of 1.05. The business has a 50-day simple moving average of $36.22 and a two-hundred day simple moving average of $35.46. Wahed Dow Jones Islamic World ETF has a fifty-two week low of $27.26 and a fifty-two week high of $41.53.

Wahed Dow Jones Islamic World ETF Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Thursday, September 24th were given a dividend of $0.1510 per share. The ex-dividend date of this dividend was Thursday, September 24th. This represents a $0.60 annualized dividend and a yield of 1.7%. This is a boost from Wahed Dow Jones Islamic World ETF’s previous quarterly dividend of $0.0040.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Valeo Financial Advisors LLC raised its holdings in shares of Wahed Dow Jones Islamic World ETF by 7.9% in the third quarter. Valeo Financial Advisors LLC now owns 9,175 shares of the company’s stock worth $338,000 after buying an additional 673 shares during the last quarter. Parallel Advisors LLC purchased a new stake in shares of Wahed Dow Jones Islamic World ETF during the third quarter valued at $88,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of Wahed Dow Jones Islamic World ETF by 17.1% during the third quarter. Farther Finance Advisors LLC now owns 30,547 shares of the company’s stock valued at $1,124,000 after buying an additional 4,452 shares during the last quarter.

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.