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

Shares of Angel Oak Income ETF (NASDAQ:CARY) saw strong trading volume on Thursday . 1,364,247 shares traded hands during mid-day trading, an increase of 236% from the previous session’s volume of 406,452 shares.The stock last traded at $20.77 and had previously closed at $20.75.

Angel Oak Income ETF Stock Performance

The company has a 50-day moving average of $20.85 and a 200-day moving average of $20.91.

Angel Oak Income ETF Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, May 1st. Shareholders of record on Thursday, April 30th were issued a dividend of $0.0934 per share. The ex-dividend date of this dividend was Thursday, April 30th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CARY. Hantz Financial Services Inc. bought a new stake in shares of Angel Oak Income ETF during the 4th quarter valued at about $30,000. Bank of America Corp DE acquired a new position in Angel Oak Income ETF in the second quarter valued at approximately $38,000. Lloyd Advisory Services LLC. acquired a new position in Angel Oak Income ETF in the fourth quarter valued at approximately $118,000. Comerica Bank grew its holdings in shares of Angel Oak Income ETF by 12.2% during the third quarter. Comerica Bank now owns 9,235 shares of the company’s stock valued at $193,000 after purchasing an additional 1,007 shares during the last quarter. Finally, Commonwealth Equity Services LLC acquired a new stake in shares of Angel Oak Income ETF during the 4th quarter worth approximately $204,000.

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.