Angel Oak UltraShort Income ETF (NASDAQ:UYLD) Hits New 12-Month Low – Here’s Why

Shares of Angel Oak UltraShort Income ETF (NASDAQ:UYLD) reached a new 52-week low during trading on Tuesday. The company traded as low as $50.61 and last traded at $50.8640, with a volume of 400 shares traded. The stock had previously closed at $50.85.

Angel Oak UltraShort Income ETF Trading Up 0.0%

The stock’s 50 day moving average is $50.94 and its 200 day moving average is $51.09.

Angel Oak UltraShort Income ETF Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Monday, November 2nd. Investors of record on Friday, October 30th were paid a dividend of $0.1882 per share. This is a decrease from Angel Oak UltraShort Income ETF’s previous monthly dividend of $0.2304. This represents a $2.26 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Friday, October 30th.

Hedge Funds Weigh In On Angel Oak UltraShort Income ETF

Several large investors have recently made changes to their positions in UYLD. NewEdge Advisors LLC raised its holdings in shares of Angel Oak UltraShort Income ETF by 199.2% in the 2nd quarter. NewEdge Advisors LLC now owns 2,115 shares of the company’s stock worth $108,000 after purchasing an additional 1,408 shares in the last quarter. Bauman Advisory Group LLC acquired a new stake in shares of Angel Oak UltraShort Income ETF during the 3rd quarter valued at $217,000. Worth Asset Management LLC bought a new stake in shares of Angel Oak UltraShort Income ETF during the 2nd quarter worth $247,000. Rockefeller Capital Management L.P. boosted its position in shares of Angel Oak UltraShort Income ETF by 30.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 5,058 shares of the company’s stock valued at $259,000 after purchasing an additional 1,176 shares during the period. Finally, Partners Wealth Management LLC acquired a new stake in Angel Oak UltraShort Income ETF during the 3rd quarter worth about $517,000.

Angel Oak UltraShort Income ETF Company Profile

The Angel Oak UltraShort Income ETF (UYLD) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund actively invests in a broad portfolio of fixed income securities of various credit qualities. Selection is based on fundamental analysis and managed to provide a dollar-weighted average maturity of less than two years UYLD was launched on Oct 24, 2022 and is issued by Angel Oak.