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

VanEck Fallen Angel High Yield Bond ETF (NASDAQ:ANGL) saw strong trading volume on Tuesday . Approximately 1,915,530 shares were traded during trading, an increase of 121% from the previous session’s volume of 868,277 shares.The stock last traded at $28.98 and had previously closed at $28.85.

VanEck Fallen Angel High Yield Bond ETF Stock Performance

The stock has a market cap of $3.05 billion, a PE ratio of 59.37 and a beta of 0.42. The company’s 50 day simple moving average is $29.06 and its 200 day simple moving average is $29.16.

VanEck Fallen Angel High Yield Bond ETF Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, August 6th. Stockholders of record on Monday, August 3rd will be issued a $0.1684 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a c) annualized dividend and a dividend yield of 7.0%.

Institutional Trading of VanEck Fallen Angel High Yield Bond ETF

Institutional investors and hedge funds have recently modified their holdings of the business. Ocean Park Asset Management LLC purchased a new stake in shares of VanEck Fallen Angel High Yield Bond ETF during the second quarter worth $17,401,000. Wealthcare Advisory Partners LLC boosted its holdings in shares of VanEck Fallen Angel High Yield Bond ETF by 2.8% in 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 in the last quarter. Ferguson Shapiro LLC purchased a new position in shares of VanEck Fallen Angel High Yield Bond ETF during the 2nd quarter valued at about $3,333,000. Melone Private Wealth LLC boosted its stake in VanEck Fallen Angel High Yield Bond ETF by 0.3% in the second quarter. Melone Private Wealth LLC now owns 361,550 shares of the company’s stock worth $10,572,000 after buying an additional 940 shares in the last quarter. Finally, Breakwater Capital Group raised its stake in shares of VanEck Fallen Angel High Yield Bond ETF by 86.8% during the second quarter. Breakwater Capital Group now owns 122,499 shares of the company’s stock worth $3,582,000 after acquiring an additional 56,906 shares in the last quarter.

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.