Wahed FTSE USA Shariah ETF (NASDAQ:HLAL) Sees Unusually-High Trading Volume – Should You Buy?

Wahed FTSE USA Shariah ETF (NASDAQ:HLAL) shares saw unusually-high trading volume on Thursday . Approximately 46,672 shares traded hands during trading, a decline of 24% from the previous session’s volume of 61,804 shares.The stock last traded at $52.18 and had previously closed at $51.85.

Wahed FTSE USA Shariah ETF Stock Performance

The company has a market capitalization of $547.67 million, a price-to-earnings ratio of 24.44 and a beta of 1.05. The company has a fifty day simple moving average of $51.08 and a two-hundred day simple moving average of $49.92.

Wahed FTSE USA Shariah ETF Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 26th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, September 26th. This is an increase from Wahed FTSE USA Shariah ETF’s previous quarterly dividend of $0.02. This represents a $0.68 annualized dividend and a yield of 1.31%.

Institutional Trading of Wahed FTSE USA Shariah ETF

A hedge fund recently raised its stake in Wahed FTSE USA Shariah ETF stock. Valeo Financial Advisors LLC boosted its stake in Wahed FTSE USA Shariah ETF (NASDAQ:HLAL) by 25.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,351 shares of the company’s stock after purchasing an additional 2,106 shares during the period. Valeo Financial Advisors LLC owned approximately 0.10% of Wahed FTSE USA Shariah ETF worth $542,000 at the end of the most recent reporting period.

Wahed FTSE USA Shariah ETF Company Profile

The Wahed FTSE USA Shariah ETF (HLAL) is an exchange-traded fund that is based on the FTSE USA Shariah index, a principles-selected, market-cap-weighted index of US equities. HLAL was launched on Jul 16, 2019 and is managed by Wahed.