VanEck Fallen Angel High Yield Bond ETF (NASDAQ:ANGL) Hits New 1-Year Low – Time to Sell?

VanEck Fallen Angel High Yield Bond ETF (NASDAQ:ANGL) shares hit a new 52-week low on Wednesday. The company traded as low as $27.25 and last traded at $27.32, with a volume of 1,772,763 shares changing hands. The stock had previously closed at $27.30.

VanEck Fallen Angel High Yield Bond ETF Stock Up 0.5%

The business’s 50-day moving average price is $28.31 and its 200-day moving average price is $28.81. The firm has a market capitalization of $3.00 billion, a PE ratio of 59.37 and a beta of 0.44.

VanEck Fallen Angel High Yield Bond ETF Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Tuesday, October 6th. Investors of record on Thursday, October 1st were given a dividend of $0.1583 per share. The ex-dividend date of this dividend was Thursday, October 1st. This is a drop from VanEck Fallen Angel High Yield Bond ETF’s previous monthly dividend of $0.1590. This represents a $1.90 dividend on an annualized basis and a yield of 6.9%.

Institutional Investors Weigh In On VanEck Fallen Angel High Yield Bond ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Silvia Mccoll Wealth Management LLC purchased a new stake in shares of VanEck Fallen Angel High Yield Bond ETF during the third quarter worth $3,528,000. Tidal Investments LLC boosted its position in VanEck Fallen Angel High Yield Bond ETF by 20.5% during the second quarter. Tidal Investments LLC now owns 293,253 shares of the company’s stock valued at $8,575,000 after purchasing an additional 49,904 shares during the last quarter. RFG Advisory LLC boosted its position in VanEck Fallen Angel High Yield Bond ETF by 331.6% during the first quarter. RFG Advisory LLC now owns 45,952 shares of the company’s stock valued at $1,320,000 after purchasing an additional 35,305 shares during the last quarter. Rockefeller Capital Management L.P. grew its stake in VanEck Fallen Angel High Yield Bond ETF by 124.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 49,739 shares of the company’s stock valued at $1,461,000 after purchasing an additional 27,601 shares in the last quarter. Finally, Ferguson Shapiro LLC purchased a new position in VanEck Fallen Angel High Yield Bond ETF in the second quarter valued at about $3,333,000.

About VanEck Fallen Angel High Yield Bond ETF

The VanEck Fallen Angel High Yield Bond ETF (ANGL) is an exchange-traded fund that mostly invests in high yield fixed income. The fund tracks a market-value-weighted index of bonds that were rated investment grade at issuance but later downgraded to sub-investment grade. ANGL was launched on Apr 10, 2012 and is managed by VanEck.