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

VanEck Fallen Angel High Yield Bond ETF (NASDAQ:ANGL) saw unusually-strong trading volume on Wednesday. 4,884,077 shares traded hands during trading, an increase of 441% from the average daily volume of 902,925 shares. The stock last traded at $27.7350 and had previously closed at $27.54.

VanEck Fallen Angel High Yield Bond ETF Price Performance

The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 59.37 and a beta of 0.44. The business’s 50-day moving average price is $28.09 and its two-hundred day moving average price is $28.88.

VanEck Fallen Angel High Yield Bond ETF Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, November 5th. Stockholders of record on Monday, November 2nd will be paid a $0.1688 dividend. This is a boost from VanEck Fallen Angel High Yield Bond ETF’s previous monthly dividend of $0.1583. The ex-dividend date is Monday, November 2nd. This represents a $2.03 dividend on an annualized basis and a dividend yield of 7.3%.

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

A number of hedge funds have recently bought and sold shares of ANGL. Capital Investment Advisors LLC bought a new stake in shares of VanEck Fallen Angel High Yield Bond ETF in the 3rd quarter valued at approximately $114,627,000. Wealthcare Advisory Partners LLC boosted its holdings in VanEck Fallen Angel High Yield Bond ETF by 2.8% in the second quarter. Wealthcare Advisory Partners LLC now owns 708,131 shares of the company’s stock worth $20,706,000 after purchasing an additional 19,295 shares during the period. Howard Financial Services LTD. boosted its holdings in VanEck Fallen Angel High Yield Bond ETF by 3.2% in the second quarter. Howard Financial Services LTD. now owns 690,639 shares of the company’s stock worth $20,194,000 after purchasing an additional 21,463 shares during the period. Ocean Park Asset Management LLC acquired a new position in VanEck Fallen Angel High Yield Bond ETF in the second quarter worth $17,401,000. Finally, Envestnet Asset Management Inc. increased its stake 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 purchasing an additional 66,478 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.