Angel Oak Income ETF (NASDAQ:CARY) Shares Break Below 50 Day Moving Average – Here’s What Happened

Angel Oak Income ETF (NASDAQ:CARY) passed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $20.33 and traded as low as $20.27. Angel Oak Income ETF shares last traded at $20.28, with a volume of 563,124 shares traded.

Angel Oak Income ETF Price Performance

The business’s 50 day moving average is $20.31 and its 200-day moving average is $20.70.

Angel Oak Income ETF’s stock is set to reverse split before the market opens on Monday, November 16th. The 1-3 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, November 15th.

Angel Oak Income ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, November 2nd. Shareholders of record on Friday, October 30th were paid a dividend of $0.1044 per share. The ex-dividend date was Friday, October 30th. 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%.

Hedge Funds Weigh In On Angel Oak Income ETF

Several hedge funds and other institutional investors have recently modified their holdings of CARY. Farther Finance Advisors LLC raised its holdings in shares of Angel Oak Income ETF by 2.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 21,995 shares of the company’s stock worth $443,000 after buying an additional 517 shares in the last quarter. Vista Investment Partners LLC boosted its stake in Angel Oak Income ETF by 10.1% in the second quarter. Vista Investment Partners LLC now owns 21,291 shares of the company’s stock valued at $442,000 after buying an additional 1,956 shares in the last quarter. Concurrent Investment Advisors LLC grew its position in Angel Oak Income ETF by 5.1% in the second quarter. Concurrent Investment Advisors LLC now owns 43,269 shares of the company’s stock valued at $899,000 after acquiring an additional 2,081 shares during the last quarter. Fifth Third Bancorp grew its position in Angel Oak Income ETF by 13.8% in the third quarter. Fifth Third Bancorp now owns 26,771 shares of the company’s stock valued at $539,000 after acquiring an additional 3,247 shares during the last quarter. Finally, MBL Wealth LLC grew its position in Angel Oak Income ETF by 1.2% in the third quarter. MBL Wealth LLC now owns 537,221 shares of the company’s stock valued at $10,809,000 after acquiring an additional 6,606 shares during 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.