Angel Oak Financial Strategies Income Term Trust (NYSE:FINS – Get Free Report) saw a large growth in short interest in the month of October. As of October 15th, there was short interest totaling 49,593 shares, a growth of 86.9% from the September 30th total of 26,541 shares. Based on an average daily volume of 37,078 shares, the days-to-cover ratio is currently 1.3 days.
Angel Oak Financial Strategies Income Term Trust Stock Performance
FINS stock opened at $12.03 on Tuesday. Angel Oak Financial Strategies Income Term Trust has a 1-year low of $11.61 and a 1-year high of $13.45. The business has a 50 day simple moving average of $12.15 and a two-hundred day simple moving average of $12.66.
Angel Oak Financial Strategies Income Term Trust Announces Dividend
The business also recently disclosed a monthly dividend, which was paid on Friday, October 30th. Stockholders of record on Friday, October 16th were given a dividend of $0.1150 per share. The ex-dividend date was Friday, October 16th. This represents a $1.38 annualized dividend and a dividend yield of 11.5%.
Hedge Funds Weigh In On Angel Oak Financial Strategies Income Term Trust
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. lifted its stake in Angel Oak Financial Strategies Income Term Trust by 25.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 300,777 shares of the company’s stock worth $3,850,000 after purchasing an additional 61,374 shares in the last quarter. Chicago Partners Investment Group LLC bought a new position in shares of Angel Oak Financial Strategies Income Term Trust during the 3rd quarter valued at about $194,000. First Trust Advisors LP grew its position in shares of Angel Oak Financial Strategies Income Term Trust by 8.4% during the first quarter. First Trust Advisors LP now owns 203,077 shares of the company’s stock valued at $2,589,000 after purchasing an additional 15,750 shares in the last quarter. Susquehanna International Group LLP purchased a new position in shares of Angel Oak Financial Strategies Income Term Trust during the second quarter valued at about $145,000. Finally, Citadel Advisors LLC bought a new stake in shares of Angel Oak Financial Strategies Income Term Trust in the second quarter worth about $139,000.
About Angel Oak Financial Strategies Income Term Trust
Angel Oak Financial Strategies Income Term Trust (NYSE:FINS) is a closed-end investment company managed by Angel Oak Capital Advisors, LLC. The fund seeks to provide current income and, as a secondary objective, capital appreciation by investing primarily in debt and other income-producing securities issued by or associated with financial institutions and financial services companies.
FINS may invest across a range of financial assets, including bank loans, corporate debt, mortgage-related securities, structured credit and other securities linked to the financial sector.
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