Angel Oak Income ETF (NASDAQ:CARY) Sees Strong Trading Volume – Still a Buy?

Angel Oak Income ETF (NASDAQ:CARY) shares saw unusually-strong trading volume on Thursday . Approximately 665,487 shares changed hands during trading, an increase of 67% from the previous session’s volume of 399,497 shares.The stock last traded at $20.4850 and had previously closed at $20.57.

Angel Oak Income ETF Trading Down 0.4%

The business’s 50-day moving average is $20.70 and its two-hundred day moving average is $20.80.

Angel Oak Income ETF Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 31st were paid a dividend of $0.0931 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date was Monday, August 31st.

Institutional Investors Weigh In On Angel Oak Income ETF

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE grew its stake in shares of Angel Oak Income ETF by 103,779.5% in the first quarter. Bank of America Corp DE now owns 4,951,934 shares of the company’s stock valued at $102,862,000 after buying an additional 4,947,167 shares in the last quarter. IFC Advisors LLC acquired a new position in Angel Oak Income ETF during the 1st quarter worth approximately $61,717,000. Morgan Stanley boosted its holdings in Angel Oak Income ETF by 49.8% in the 4th quarter. Morgan Stanley now owns 4,791,541 shares of the company’s stock worth $99,786,000 after acquiring an additional 1,593,932 shares during the period. UBS Group AG boosted its holdings in Angel Oak Income ETF by 59.6% in the 3rd quarter. UBS Group AG now owns 1,500,562 shares of the company’s stock worth $31,377,000 after acquiring an additional 560,571 shares during the period. Finally, Arkadios Wealth Advisors grew its position in Angel Oak Income ETF by 13.7% in the first quarter. Arkadios Wealth Advisors now owns 3,562,484 shares of the company’s stock valued at $74,003,000 after acquiring an additional 428,745 shares in the last quarter.

About Angel Oak Income ETF

The Angel Oak Income ETF (CARY) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund that aims for current income by broadly investing in USD-denominated fixed income securities with a tilt towards structured products and residential mortgage. Securities could be of any credit quality or maturity. CARY was launched on Nov 7, 2022 and is issued by Angel Oak.