VanEck Fallen Angel High Yield Bond ETF (NASDAQ:ANGL) Sees Large Volume Increase – Should You Buy?

VanEck Fallen Angel High Yield Bond ETF (NASDAQ:ANGL) shares saw unusually-strong trading volume on Thursday. Approximately 1,488,885 shares changed hands during mid-day trading, an increase of 74% from the previous session’s volume of 856,879 shares. The stock last traded at $28.2050 and had previously closed at $28.31.

VanEck Fallen Angel High Yield Bond ETF Stock Performance

The company has a market cap of $3.13 billion, a PE ratio of 59.37 and a beta of 0.42. The firm’s 50 day moving average is $28.82 and its 200-day moving average is $28.96.

VanEck Fallen Angel High Yield Bond ETF Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Friday, September 4th. Stockholders of record on Tuesday, September 1st were given a $0.1590 dividend. This represents a $1.91 dividend on an annualized basis and a dividend yield of 6.8%. This is a drop from VanEck Fallen Angel High Yield Bond ETF’s previous monthly dividend of $0.1684. The ex-dividend date was Tuesday, September 1st.

Hedge Funds Weigh In On VanEck Fallen Angel High Yield Bond ETF

A number of institutional investors have recently added to or reduced their stakes in ANGL. Envestnet Asset Management Inc. raised its holdings in shares of VanEck Fallen Angel High Yield Bond ETF by 12.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 587,488 shares of the company’s stock worth $17,178,000 after acquiring an additional 66,478 shares during the period. Tidal Investments LLC grew its holdings in shares of VanEck Fallen Angel High Yield Bond ETF by 20.5% in the second quarter. Tidal Investments LLC now owns 293,253 shares of the company’s stock valued at $8,575,000 after purchasing an additional 49,904 shares during the period. IFP Advisors Inc increased its position in VanEck Fallen Angel High Yield Bond ETF by 12.0% during the second quarter. IFP Advisors Inc now owns 31,176 shares of the company’s stock worth $912,000 after purchasing an additional 3,335 shares during the last quarter. Performa Ltd US LLC increased its position in VanEck Fallen Angel High Yield Bond ETF by 3.9% during the second quarter. Performa Ltd US LLC now owns 123,913 shares of the company’s stock worth $3,623,000 after purchasing an additional 4,696 shares during the last quarter. Finally, Waverly Advisors LLC raised its stake in VanEck Fallen Angel High Yield Bond ETF by 8.3% during the second quarter. Waverly Advisors LLC now owns 62,675 shares of the company’s stock worth $1,833,000 after purchasing an additional 4,786 shares during the period.

About VanEck Fallen Angel High Yield Bond ETF

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.