Wahed Dow Jones Islamic World ETF (NASDAQ:UMMA) Sees Large Decrease in Short Interest

Wahed Dow Jones Islamic World ETF (NASDAQ:UMMA) saw a significant decrease in short interest during the month of August. As of August 14th, there was short interest totaling 16,505 shares, a decrease of 68.9% from the July 30th total of 53,113 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily volume of 41,947 shares, the short-interest ratio is currently 0.4 days.

Institutional Inflows and Outflows

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

Wahed Dow Jones Islamic World ETF Stock Performance

Shares of UMMA opened at $37.60 on Thursday. The business’s fifty day moving average price is $37.38 and its two-hundred day moving average price is $35.33. The firm has a market capitalization of $293.28 million, a price-to-earnings 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 firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Thursday, June 25th were paid a $0.004 dividend. This represents a $0.02 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date of this dividend was Thursday, June 25th.

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.