Short Interest in Wahed Dow Jones Islamic World ETF (NASDAQ:UMMA) Drops By 68.9%

Wahed Dow Jones Islamic World ETF (NASDAQ:UMMA) was the recipient of a significant drop in short interest in August. As of August 14th, there was short interest totaling 16,505 shares, a drop of 68.9% from the July 30th total of 53,113 shares. Based on an average daily trading volume, of 41,947 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.2% of the company’s shares are short sold.

Hedge Funds Weigh In On Wahed Dow Jones Islamic World ETF

An institutional investor recently bought a new position in Wahed Dow Jones Islamic World ETF stock. Valeo Financial Advisors LLC purchased a new position in shares of Wahed Dow Jones Islamic World ETF (NASDAQ:UMMA) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 8,502 shares of the company’s stock, valued at approximately $336,000. Valeo Financial Advisors LLC owned about 0.11% of Wahed Dow Jones Islamic World ETF at the end of the most recent reporting period.

Wahed Dow Jones Islamic World ETF Stock Down 0.8%

Shares of NASDAQ:UMMA opened at $37.49 on Friday. The business has a fifty day moving average of $37.27 and a two-hundred day moving average of $35.38. The stock has a market cap of $292.42 million, a P/E ratio of 23.30 and a beta of 1.04. Wahed Dow Jones Islamic World ETF has a 52-week low of $25.82 and a 52-week high of $41.53.

Wahed Dow Jones Islamic World ETF Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Thursday, June 25th were given a dividend of $0.004 per share. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $0.02 annualized dividend and a dividend yield of 0.0%.

Wahed Dow Jones Islamic World ETF Company Profile

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.