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

Angel Oak Income ETF (NASDAQ:CARY) shares saw unusually-high trading volume on Thursday . 665,487 shares were traded during mid-day 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 Price Performance

The company has a fifty day simple moving average of $20.70 and a two-hundred day simple moving average of $20.80.

Angel Oak Income ETF Cuts Dividend

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

Institutional Investors Weigh In On Angel Oak Income ETF

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

Angel Oak Income ETF Company Profile

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.