SP Funds Dow Jones Global Sukuk ETF (NYSEARCA:SPSK) Sees Significant Increase in Short Interest

SP Funds Dow Jones Global Sukuk ETF (NYSEARCA:SPSK) saw a large growth in short interest during the month of February. As of February 27th, there was short interest totaling 96,149 shares, a growth of 464.6% from the February 12th total of 17,029 shares. Approximately 0.4% of the company’s shares are short sold. Based on an average daily volume of 235,940 shares, the days-to-cover ratio is currently 0.4 days. Based on an average daily volume of 235,940 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.4% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC boosted its position in shares of SP Funds Dow Jones Global Sukuk ETF by 11.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 38,268 shares of the company’s stock worth $707,000 after purchasing an additional 4,080 shares during the last quarter. Heartwood Wealth Advisors LLC lifted its stake in SP Funds Dow Jones Global Sukuk ETF by 5.9% in the third quarter. Heartwood Wealth Advisors LLC now owns 16,242 shares of the company’s stock valued at $300,000 after buying an additional 903 shares during the period. Finally, Strategic Blueprint LLC lifted its stake in SP Funds Dow Jones Global Sukuk ETF by 7.7% in the third quarter. Strategic Blueprint LLC now owns 11,663 shares of the company’s stock valued at $216,000 after buying an additional 837 shares during the period.

SP Funds Dow Jones Global Sukuk ETF Price Performance

Shares of NYSEARCA:SPSK remained flat at $18.11 during trading on Wednesday. 38,803 shares of the stock traded hands, compared to its average volume of 253,587. The company’s fifty day moving average is $18.25 and its 200-day moving average is $18.44. SP Funds Dow Jones Global Sukuk ETF has a 12 month low of $17.75 and a 12 month high of $18.71.

SP Funds Dow Jones Global Sukuk ETF Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, February 23rd. Shareholders of record on Friday, February 20th were issued a dividend of $0.052 per share. This represents a c) dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Friday, February 20th.

About SP Funds Dow Jones Global Sukuk ETF

The SP Funds Dow Jones Global Sukuk ETF (SPSK) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund tracks an index of USD-denominated global investment-grade sukuk of various maturities and weighted by market value. SPSK was launched on Dec 30, 2019 and is managed by SP Funds.