Wahed FTSE USA Shariah ETF (NASDAQ:HLAL) Trading 0.9% Higher – Time to Buy?

Wahed FTSE USA Shariah ETF (NASDAQ:HLAL)’s share price shot up 0.9% on Wednesday . The stock traded as high as $53.97 and last traded at $53.97. 52,331 shares traded hands during mid-day trading, a decline of 28% from the average session volume of 72,988 shares. The stock had previously closed at $53.47.

Wahed FTSE USA Shariah ETF Price Performance

The firm has a market cap of $624.43 million, a price-to-earnings ratio of 26.06 and a beta of 1.05. The stock’s fifty day moving average price is $51.09 and its 200-day moving average price is $51.13.

Wahed FTSE USA Shariah ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Wednesday, June 25th were given a dividend of $0.023 per share. This represents a $0.09 annualized dividend and a yield of 0.17%. The ex-dividend date was Wednesday, June 25th.

Institutional Trading of Wahed FTSE USA Shariah ETF

A number of hedge funds have recently modified their holdings of HLAL. United Capital Financial Advisors LLC boosted its position in shares of Wahed FTSE USA Shariah ETF by 10.4% in the fourth quarter. United Capital Financial Advisors LLC now owns 4,969 shares of the company’s stock worth $262,000 after buying an additional 470 shares during the period. Valeo Financial Advisors LLC raised its position in Wahed FTSE USA Shariah ETF by 13.4% during the first quarter. Valeo Financial Advisors LLC now owns 12,063 shares of the company’s stock valued at $589,000 after buying an additional 1,424 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake in Wahed FTSE USA Shariah ETF by 2.3% in the 4th quarter. Farther Finance Advisors LLC now owns 40,077 shares of the company’s stock worth $2,114,000 after acquiring an additional 895 shares in the last quarter.

About Wahed FTSE USA Shariah ETF

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.