Angel Oak UltraShort Income ETF (NASDAQ:UYLD) Sees Strong Trading Volume – Time to Buy?

Shares of Angel Oak UltraShort Income ETF (NASDAQ:UYLD) saw unusually-high trading volume on Monday . 10,240,583 shares were traded during mid-day trading, an increase of 5,371% from the previous session’s volume of 187,176 shares.The stock last traded at $50.93 and had previously closed at $50.99.

Angel Oak UltraShort Income ETF Stock Performance

The stock’s 50-day moving average is $51.07 and its two-hundred day moving average is $51.11.

Angel Oak UltraShort Income ETF Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 31st were given a dividend of $0.1799 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a c) annualized dividend and a dividend yield of 4.2%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Transamerica Financial Advisors LLC raised its holdings in shares of Angel Oak UltraShort Income ETF by 0.6% in the 4th quarter. Transamerica Financial Advisors LLC now owns 48,809 shares of the company’s stock valued at $2,496,000 after purchasing an additional 277 shares in the last quarter. Ieq Capital LLC increased its holdings in shares of Angel Oak UltraShort Income ETF by 1.8% in the fourth quarter. Ieq Capital LLC now owns 17,850 shares of the company’s stock valued at $913,000 after purchasing an additional 314 shares during the period. Royal Bank of Canada increased its holdings in Angel Oak UltraShort Income ETF by 76.0% in the 4th quarter. Royal Bank of Canada now owns 901 shares of the company’s stock worth $46,000 after buying an additional 389 shares during the period. NewEdge Advisors LLC raised its position in Angel Oak UltraShort Income ETF by 4.6% during the first quarter. NewEdge Advisors LLC now owns 8,936 shares of the company’s stock valued at $457,000 after acquiring an additional 392 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of Angel Oak UltraShort Income ETF in the fourth quarter worth about $27,000.

Angel Oak UltraShort Income ETF Company Profile

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.