VanEck Fallen Angel High Yield Bond ETF (NASDAQ:ANGL) Sees Large Volume Increase – Here’s Why

Shares of VanEck Fallen Angel High Yield Bond ETF (NASDAQ:ANGL) saw an uptick in trading volume on Thursday . Approximately 1,488,885 shares changed hands during trading, an increase of 74% from the previous session’s volume of 856,879 shares.The stock last traded at $28.2050 and had previously closed at $28.31.

VanEck Fallen Angel High Yield Bond ETF Stock Performance

The business’s fifty day moving average price is $28.86 and its 200-day moving average price is $28.97. The stock has a market cap of $3.14 billion, a PE ratio of 59.37 and a beta of 0.42.

VanEck Fallen Angel High Yield Bond ETF Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Friday, September 4th. Shareholders of record on Tuesday, September 1st were paid a dividend of $0.159 per share. The ex-dividend date was Tuesday, September 1st. This represents a c) dividend on an annualized basis and a yield of 6.8%.

Hedge Funds Weigh In On VanEck Fallen Angel High Yield Bond ETF

Institutional investors and hedge funds have recently modified their holdings of the company. Envestnet Asset Management Inc. increased its position in VanEck Fallen Angel High Yield Bond ETF by 12.8% during the second quarter. Envestnet Asset Management Inc. now owns 587,488 shares of the company’s stock valued at $17,178,000 after acquiring an additional 66,478 shares during the last quarter. Tidal Investments LLC increased its position in shares of VanEck Fallen Angel High Yield Bond ETF by 20.5% during the 2nd 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. IFP Advisors Inc increased its position in shares of VanEck Fallen Angel High Yield Bond ETF by 12.0% during the 2nd quarter. IFP Advisors Inc now owns 31,176 shares of the company’s stock valued at $912,000 after purchasing an additional 3,335 shares during the last quarter. Performa Ltd US LLC lifted its stake in shares of VanEck Fallen Angel High Yield Bond ETF by 3.9% in the 2nd quarter. Performa Ltd US LLC now owns 123,913 shares of the company’s stock worth $3,623,000 after purchasing an additional 4,696 shares during the period. Finally, Waverly Advisors LLC boosted its holdings in shares of VanEck Fallen Angel High Yield Bond ETF by 8.3% in the second quarter. Waverly Advisors LLC now owns 62,675 shares of the company’s stock worth $1,833,000 after buying an additional 4,786 shares during the last quarter.

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.