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

Wahed Dow Jones Islamic World ETF (NASDAQ:UMMA) saw a large drop in short interest in the month of May. As of May 15th, there was short interest totaling 16,074 shares, a drop of 43.6% from the April 30th total of 28,493 shares. Based on an average daily trading volume, of 41,517 shares, the short-interest ratio is presently 0.4 days. Approximately 0.2% of the company’s stock are sold short.

Wahed Dow Jones Islamic World ETF Price Performance

Shares of UMMA traded up $0.64 during midday trading on Tuesday, reaching $38.97. The stock had a trading volume of 87,907 shares, compared to its average volume of 49,547. Wahed Dow Jones Islamic World ETF has a 1-year low of $25.27 and a 1-year high of $39.26. The company’s fifty day simple moving average is $34.03 and its two-hundred day simple moving average is $31.97. The company has a market cap of $274.74 million, a price-to-earnings ratio of 23.30 and a beta of 1.02.

Wahed Dow Jones Islamic World ETF Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Thursday, March 26th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Thursday, March 26th. This is a positive change from Wahed Dow Jones Islamic World ETF’s previous quarterly dividend of $0.00.

Institutional Investors Weigh In On Wahed Dow Jones Islamic World ETF

An institutional investor recently raised its position in Wahed Dow Jones Islamic World ETF stock. Farther Finance Advisors LLC increased its stake in shares of Wahed Dow Jones Islamic World ETF (NASDAQ:UMMA) by 44.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,162 shares of the company’s stock after acquiring 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 at the end of the most recent quarter.

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.