Wahed Dow Jones Islamic World ETF (NASDAQ:UMMA) Sees Significant Growth in Short Interest

Wahed Dow Jones Islamic World ETF (NASDAQ:UMMA) was the target of a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 175,185 shares, a growth of 54.4% from the September 15th total of 113,451 shares. Currently, 2.2% of the shares of the company are sold short. Based on an average trading volume of 43,541 shares, the short-interest ratio is currently 4.0 days.

Institutional Investors Weigh In On Wahed Dow Jones Islamic World ETF

A hedge fund recently bought a new stake in Wahed Dow Jones Islamic World ETF stock. Valeo Financial Advisors LLC bought a new position in Wahed Dow Jones Islamic World ETF (NASDAQ:UMMA) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 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 as of its most recent filing with the Securities and Exchange Commission.

Wahed Dow Jones Islamic World ETF Trading Down 1.4%

UMMA stock traded down $0.50 during trading on Friday, hitting $35.17. The company had a trading volume of 56,866 shares, compared to its average volume of 51,019. The business has a 50 day moving average of $37.07 and a 200 day moving average of $36.44. The firm has a market capitalization of $291.91 million, a price-to-earnings ratio of 23.30 and a beta of 1.05. 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 firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Thursday, September 24th were paid a dividend of $0.1510 per share. This is a boost from Wahed Dow Jones Islamic World ETF’s previous quarterly dividend of $0.0040. This represents a $0.60 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Thursday, September 24th.

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.