Wahed Dow Jones Islamic World ETF (NASDAQ:UMMA) Shares Down 1.8% – Time to Sell?

Wahed Dow Jones Islamic World ETF (NASDAQ:UMMA) shares dropped 1.8% on Thursday . The company traded as low as $35.92 and last traded at $36.11. Approximately 32,035 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 51,253 shares. The stock had previously closed at $36.76.

Wahed Dow Jones Islamic World ETF Trading Down 1.8%

The company has a market capitalization of $281.66 million, a price-to-earnings ratio of 23.30 and a beta of 1.03. The firm has a 50-day moving average price of $37.73 and a 200-day moving average price of $34.21.

Wahed Dow Jones Islamic World ETF Cuts Dividend

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

Institutional Inflows and Outflows

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 Wahed Dow Jones Islamic World ETF (NASDAQ:UMMA) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 8,502 shares of the company’s stock, valued at approximately $336,000. Valeo Financial Advisors LLC owned approximately 0.11% of Wahed Dow Jones Islamic World ETF at the end of the most recent quarter.

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.