Short Interest in Wahed Dow Jones Islamic World ETF (NASDAQ:UMMA) Declines By 79.1%

Wahed Dow Jones Islamic World ETF (NASDAQ:UMMA) saw a significant drop in short interest in the month of February. As of February 27th, there was short interest totaling 50,081 shares, a drop of 79.1% from the February 12th total of 239,141 shares. Approximately 0.8% of the company’s stock are short sold. Based on an average daily trading volume, of 48,819 shares, the days-to-cover ratio is presently 1.0 days. Based on an average daily trading volume, of 48,819 shares, the days-to-cover ratio is presently 1.0 days. Approximately 0.8% of the company’s stock are short sold.

Wahed Dow Jones Islamic World ETF Stock Down 0.4%

Shares of NASDAQ:UMMA opened at $32.09 on Wednesday. The firm has a 50 day moving average of $32.30 and a 200 day moving average of $29.60. The company has a market capitalization of $203.77 million, a price-to-earnings ratio of 23.30 and a beta of 0.98. Wahed Dow Jones Islamic World ETF has a 52 week low of $20.85 and a 52 week high of $34.98.

Wahed Dow Jones Islamic World ETF Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Wednesday, December 24th were issued a $0.0044 dividend. The ex-dividend date was Wednesday, December 24th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.1%.

Institutional Investors Weigh In On Wahed Dow Jones Islamic World ETF

A hedge fund recently raised its stake in Wahed Dow Jones Islamic World ETF stock. Farther Finance Advisors LLC boosted its stake in shares of Wahed Dow Jones Islamic World ETF (NASDAQ:UMMA) by 44.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,162 shares of the company’s stock after purchasing an additional 7,475 shares during the quarter. Farther Finance Advisors LLC owned about 0.38% of Wahed Dow Jones Islamic World ETF worth $715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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.