Angel Oak UltraShort Income ETF (NASDAQ:UYLD) Sees Large Drop in Short Interest

Angel Oak UltraShort Income ETF (NASDAQ:UYLD) saw a large decline in short interest in May. As of May 15th, there was short interest totaling 34,248 shares, a decline of 63.4% from the April 30th total of 93,687 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average trading volume of 198,321 shares, the days-to-cover ratio is presently 0.2 days.

Angel Oak UltraShort Income ETF Trading Down 0.3%

Shares of NASDAQ:UYLD opened at $51.04 on Friday. Angel Oak UltraShort Income ETF has a 1 year low of $50.96 and a 1 year high of $51.46. The firm’s 50-day moving average is $51.14 and its two-hundred day moving average is $51.20.

Angel Oak UltraShort Income ETF Cuts Dividend

The firm also recently announced a dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 29th will be paid a dividend of $0.1806 per share. The ex-dividend date of this dividend is Friday, May 29th.

Hedge Funds Weigh In On Angel Oak UltraShort Income ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UYLD. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Angel Oak UltraShort Income ETF in the fourth quarter worth $27,000. MAI Capital Management purchased a new position in Angel Oak UltraShort Income ETF in the third quarter valued at $28,000. Royal Bank of Canada grew its stake in Angel Oak UltraShort Income ETF by 76.0% during the 4th quarter. Royal Bank of Canada now owns 901 shares of the company’s stock worth $46,000 after purchasing an additional 389 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Angel Oak UltraShort Income ETF by 46,300.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,392 shares of the company’s stock worth $71,000 after purchasing an additional 1,389 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC purchased a new stake in Angel Oak UltraShort Income ETF during the 3rd quarter worth about $230,000.

About Angel Oak UltraShort Income ETF

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.