Wahed FTSE USA Shariah ETF (NASDAQ:HLAL) Sets New 52-Week Low – Here’s Why

Wahed FTSE USA Shariah ETF (NASDAQ:HLAL) shares hit a new 52-week low during trading on Friday . The company traded as low as $45.00 and last traded at $45.71, with a volume of 3160 shares. The stock had previously closed at $46.89.

Wahed FTSE USA Shariah ETF Stock Down 5.7 %

The stock has a market capitalization of $502.12 million, a PE ratio of 25.89 and a beta of 1.03. The firm has a 50 day moving average price of $51.46 and a 200 day moving average price of $52.28.

Wahed FTSE USA Shariah ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 26th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date was Wednesday, March 26th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. United Capital Financial Advisors LLC lifted its stake in shares of Wahed FTSE USA Shariah ETF by 10.4% during the 4th quarter. United Capital Financial Advisors LLC now owns 4,969 shares of the company’s stock valued at $262,000 after buying an additional 470 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Wahed FTSE USA Shariah ETF by 2.3% in the fourth quarter. Farther Finance Advisors LLC now owns 40,077 shares of the company’s stock worth $2,114,000 after buying an additional 895 shares in the last quarter. Finally, Valeo Financial Advisors LLC grew its position in Wahed FTSE USA Shariah ETF by 2.8% during the 4th quarter. Valeo Financial Advisors LLC now owns 10,639 shares of the company’s stock worth $561,000 after acquiring an additional 288 shares during the last 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.