Angel Oak Income ETF (NASDAQ:CARY) Sees Large Volume Increase – Time to Buy?

Angel Oak Income ETF (NASDAQ:CARY) shares saw unusually-high trading volume on Wednesday. Approximately 1,264,966 shares were traded during mid-day trading, an increase of 201% from the previous session’s volume of 420,165 shares. The stock last traded at $20.2450 and had previously closed at $20.22.

Angel Oak Income ETF Trading Up 0.1%

The stock has a fifty day moving average price of $20.44 and a two-hundred day moving average price of $20.67.

Angel Oak Income ETF’s stock is going to reverse split on the morning of Monday, November 16th. The 1-3 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, November 15th.

Angel Oak Income ETF Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Thursday, October 1st. Shareholders of record on Wednesday, September 30th were issued a dividend of $0.1025 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.23 dividend on an annualized basis and a yield of 6.1%. This is an increase from Angel Oak Income ETF’s previous monthly dividend of $0.0931.

Institutional Investors Weigh In On Angel Oak Income ETF

A number of institutional investors have recently modified their holdings of the business. Oregon Pacific Wealth Management LLC purchased a new stake in Angel Oak Income ETF during the third quarter worth about $270,000. Islay Capital Management LLC raised its holdings in Angel Oak Income ETF by 8.0% in the third quarter. Islay Capital Management LLC now owns 113,300 shares of the company’s stock worth $2,280,000 after purchasing an additional 8,400 shares in the last quarter. Independent Wealth Network Inc. bought a new stake in Angel Oak Income ETF in the third quarter worth $366,000. Onyx Bridge Wealth Group LLC purchased a new stake in Angel Oak Income ETF in the third quarter worth approximately $1,417,000. Finally, First Heartland Consultants Inc. purchased a new stake in Angel Oak Income ETF in the third quarter worth about $320,000.

Angel Oak Income ETF Company Profile

The Angel Oak Income ETF (CARY) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund that aims for current income by broadly investing in USD-denominated fixed income securities with a tilt towards structured products and residential mortgage. Securities could be of any credit quality or maturity. CARY was launched on Nov 7, 2022 and is issued by Angel Oak.