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

Shares of Wahed FTSE USA Shariah ETF (NASDAQ:HLAL) saw an uptick in trading volume on Wednesday . 51,830 shares changed hands during mid-day 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 Price Performance

The firm has a market cap of $556.50 million, a P/E ratio of 24.44 and a beta of 1.05. The business’s 50-day moving average is $51.56 and its two-hundred day moving average is $50.51.

Wahed FTSE USA Shariah ETF Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Thursday, September 26th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date was Thursday, September 26th. This is an increase from Wahed FTSE USA Shariah ETF’s previous quarterly dividend of $0.02.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Wahed FTSE USA Shariah ETF stock. Valeo Financial Advisors LLC grew its position in Wahed FTSE USA Shariah ETF (NASDAQ:HLAL) by 15.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,245 shares of the company’s stock after acquiring an additional 1,079 shares during the period. Valeo Financial Advisors LLC owned about 0.09% of Wahed FTSE USA Shariah ETF worth $417,000 at the end of the most recent 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.