Angel Oak Income ETF (NASDAQ:CARY) Sees Large Volume Increase After Dividend Announcement

Angel Oak Income ETF (NASDAQ:CARY) shares saw strong trading volume on Thursday following a dividend announcement from the company. 3,488,214 shares traded hands during trading, an increase of 729% from the average daily volume of 420,614 shares. The stock last traded at $20.3550 and had previously closed at $20.33.

The newly announced dividend which will be paid on Monday, November 2nd. Shareholders of record on Friday, October 30th will be paid a $0.1044 dividend. This is a boost from Angel Oak Income ETF’s previous monthly dividend of $0.1025. This represents a $1.25 annualized dividend and a yield of 6.2%. The ex-dividend date is Friday, October 30th.

Angel Oak Income ETF Stock Down 0.2%

The firm’s 50 day simple moving average is $20.38 and its 200-day simple moving average is $20.73.

Shares of Angel Oak Income ETF are set 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.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its position in Angel Oak Income ETF by 103,779.5% in the 1st quarter. Bank of America Corp DE now owns 4,951,934 shares of the company’s stock valued at $102,862,000 after buying an additional 4,947,167 shares during the last quarter. Arkadios Wealth Advisors increased its holdings in Angel Oak Income ETF by 13.7% in the first quarter. Arkadios Wealth Advisors now owns 3,562,484 shares of the company’s stock valued at $74,003,000 after buying an additional 428,745 shares in the last quarter. IFC Advisors LLC acquired a new position in Angel Oak Income ETF during the first quarter worth $61,717,000. Envestnet Asset Management Inc. raised its stake in shares of Angel Oak Income ETF by 103.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,107,410 shares of the company’s stock worth $23,012,000 after buying an additional 563,831 shares during the last quarter. Finally, Sage Advisory Services Ltd.Co. lifted its holdings in shares of Angel Oak Income ETF by 187.2% in the third quarter. Sage Advisory Services Ltd.Co. now owns 787,954 shares of the company’s stock valued at $15,854,000 after purchasing an additional 513,594 shares in the last quarter.

About Angel Oak Income ETF

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.