Wahed FTSE USA Shariah ETF (NASDAQ:HLAL) Sees Large Volume Increase – Time to Buy?

Wahed FTSE USA Shariah ETF (NASDAQ:HLAL) saw unusually-strong trading volume on Wednesday . Approximately 51,830 shares were traded during trading, a decline of 18% from the previous session’s volume of 62,907 shares.The stock last traded at $52.59 and had previously closed at $52.76.

Wahed FTSE USA Shariah ETF Trading Down 0.5 %

The firm’s 50-day simple moving average is $51.56 and its two-hundred day simple moving average is $50.51. The stock has a market capitalization of $556.50 million, a PE ratio of 24.44 and a beta of 1.05.

Wahed FTSE USA Shariah ETF Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders 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 represents a $0.68 dividend on an annualized basis and a dividend yield of 1.30%. This is a positive change from Wahed FTSE USA Shariah ETF’s previous quarterly dividend of $0.02.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Wahed FTSE USA Shariah ETF stock. Valeo Financial Advisors LLC increased its holdings in Wahed FTSE USA Shariah ETF (NASDAQ:HLAL) by 15.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,245 shares of the company’s stock after purchasing an additional 1,079 shares during the period. Valeo Financial Advisors LLC owned approximately 0.09% of Wahed FTSE USA Shariah ETF worth $417,000 at the end of the most recent quarter.

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.