VanEck Fallen Angel High Yield Bond ETF (NASDAQ:ANGL) Sees Strong Trading Volume – Still a Buy?

Shares of VanEck Fallen Angel High Yield Bond ETF (NASDAQ:ANGL) saw unusually-strong trading volume on Wednesday. Approximately 4,884,077 shares traded hands during mid-day 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 Stock Down 0.2%

The business has a 50 day simple moving average of $28.04 and a two-hundred day simple moving average of $28.87. The firm has a market cap of $2.99 billion, a PE ratio of 59.37 and a beta of 0.45.

VanEck Fallen Angel High Yield Bond ETF Increases Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Capital Investment Advisors LLC purchased a new position in shares of VanEck Fallen Angel High Yield Bond ETF in the 3rd quarter valued at $114,627,000. Wealthcare Advisory Partners LLC lifted its stake in shares of VanEck Fallen Angel High Yield Bond ETF by 2.8% during the 2nd 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 last quarter. Howard Financial Services LTD. lifted its stake in shares of VanEck Fallen Angel High Yield Bond ETF by 3.2% during the 2nd 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 last quarter. Ocean Park Asset Management LLC bought a new stake in VanEck Fallen Angel High Yield Bond ETF during the second quarter valued at about $17,401,000. Finally, Envestnet Asset Management Inc. boosted its position 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 in the last quarter.

VanEck Fallen Angel High Yield Bond ETF Company Profile

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.