VanEck Fallen Angel High Yield Bond ETF (NASDAQ:ANGL) Sees Strong Trading Volume – Here’s What Happened

VanEck Fallen Angel High Yield Bond ETF (NASDAQ:ANGL) shares saw unusually-strong trading volume on Wednesday . Approximately 8,471,360 shares changed hands during trading, an increase of 811% from the previous session’s volume of 929,479 shares.The stock last traded at $28.98 and had previously closed at $28.89.

VanEck Fallen Angel High Yield Bond ETF Stock Up 0.3 %

The firm has a fifty day moving average of $28.90 and a 200-day moving average of $29.01. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 60.80 and a beta of 0.52.

VanEck Fallen Angel High Yield Bond ETF Cuts Dividend

The business also recently declared a dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, March 3rd were given a dividend of $0.1361 per share. The ex-dividend date of this dividend was Monday, March 3rd.

Institutional Investors Weigh In On VanEck Fallen Angel High Yield Bond ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in ANGL. Ameriprise Financial Inc. grew its position in shares of VanEck Fallen Angel High Yield Bond ETF by 54.9% in the fourth quarter. Ameriprise Financial Inc. now owns 2,827,144 shares of the company’s stock valued at $81,073,000 after purchasing an additional 1,002,192 shares during the period. Bank of America Corp DE grew its position in shares of VanEck Fallen Angel High Yield Bond ETF by 11.6% in the fourth quarter. Bank of America Corp DE now owns 9,470,412 shares of the company’s stock valued at $271,517,000 after purchasing an additional 984,949 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of VanEck Fallen Angel High Yield Bond ETF in the fourth quarter valued at $19,086,000. Strategic Financial Concepts LLC grew its position in shares of VanEck Fallen Angel High Yield Bond ETF by 2,872.6% in the fourth quarter. Strategic Financial Concepts LLC now owns 611,573 shares of the company’s stock valued at $17,534,000 after purchasing an additional 590,999 shares during the period. Finally, Wells Fargo & Company MN grew its position in shares of VanEck Fallen Angel High Yield Bond ETF by 51.2% in the fourth quarter. Wells Fargo & Company MN now owns 1,582,858 shares of the company’s stock valued at $45,381,000 after purchasing an additional 535,771 shares during the period.

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.