Wahed FTSE USA Shariah ETF (NASDAQ:HLAL) Reaches New 12-Month Low – Time to Sell?

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

Wahed FTSE USA Shariah ETF Price Performance

The stock has a market cap of $502.12 million, a P/E ratio of 25.89 and a beta of 1.03. The stock’s 50 day simple moving average is $51.46 and its two-hundred day simple moving average is $52.28.

Wahed FTSE USA Shariah ETF Cuts Dividend

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

Institutional Investors Weigh In On Wahed FTSE USA Shariah ETF

Several hedge funds have recently bought and sold shares of the company. United Capital Financial Advisors LLC raised its stake in Wahed FTSE USA Shariah ETF by 10.4% in the 4th quarter. United Capital Financial Advisors LLC now owns 4,969 shares of the company’s stock worth $262,000 after purchasing an additional 470 shares in the last quarter. Valeo Financial Advisors LLC increased 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 valued at $561,000 after purchasing an additional 288 shares during the period. Finally, Farther Finance Advisors LLC raised its position in shares of 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.