Wahed FTSE USA Shariah ETF (NASDAQ:HLAL) Shares Down 1.2% – What’s Next?

Shares of Wahed FTSE USA Shariah ETF (NASDAQ:HLAL) dropped 1.2% during trading on Thursday . The stock traded as low as $61.47 and last traded at $61.47. Approximately 111,479 shares were traded during trading, an increase of 42% from the average daily volume of 78,681 shares. The stock had previously closed at $62.22.

Wahed FTSE USA Shariah ETF Price Performance

The firm’s 50-day moving average is $58.87 and its 200 day moving average is $54.47. The stock has a market cap of $730.26 million, a price-to-earnings ratio of 26.06 and a beta of 1.00.

Wahed FTSE USA Shariah ETF Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Wednesday, September 24th were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, September 24th. This is an increase from Wahed FTSE USA Shariah ETF’s previous quarterly dividend of $0.02. This represents a $0.60 annualized dividend and a dividend yield of 1.0%.

Institutional Investors Weigh In On Wahed FTSE USA Shariah ETF

A hedge fund recently raised its stake in Wahed FTSE USA Shariah ETF stock. Valeo Financial Advisors LLC lifted its holdings in Wahed FTSE USA Shariah ETF (NASDAQ:HLAL) by 13.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,063 shares of the company’s stock after acquiring an additional 1,424 shares during the period. Valeo Financial Advisors LLC owned approximately 0.10% of Wahed FTSE USA Shariah ETF worth $589,000 as of its most recent SEC filing.

About Wahed FTSE USA Shariah ETF

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.