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

Wahed Dow Jones Islamic World ETF (NASDAQ:UMMA) was the recipient of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 23,400 shares, a drop of 34.5% from the November 15th total of 35,700 shares. Based on an average daily trading volume, of 25,500 shares, the days-to-cover ratio is currently 0.9 days.

Wahed Dow Jones Islamic World ETF Price Performance

Shares of NASDAQ UMMA traded down $0.03 during mid-day trading on Friday, reaching $24.59. 6,342 shares of the company’s stock traded hands, compared to its average volume of 26,020. The stock has a market cap of $110.66 million, a P/E ratio of 20.60 and a beta of 1.03. Wahed Dow Jones Islamic World ETF has a 1-year low of $21.50 and a 1-year high of $26.44. The business has a 50-day simple moving average of $24.75 and a 200 day simple moving average of $24.84.

Wahed Dow Jones Islamic World ETF Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Thursday, September 26th were issued a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a yield of 2.36%. This is an increase from Wahed Dow Jones Islamic World ETF’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Thursday, September 26th.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Wahed Dow Jones Islamic World ETF stock. Farther Finance Advisors LLC lifted its holdings in Wahed Dow Jones Islamic World ETF (NASDAQ:UMMA) by 48.9% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,617 shares of the company’s stock after buying an additional 3,488 shares during the period. Farther Finance Advisors LLC owned approximately 0.24% of Wahed Dow Jones Islamic World ETF worth $271,000 at the end of the most recent reporting period.

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.