Angel Oak Income ETF (NASDAQ:CARY) Sees Large Volume Increase – Here’s What Happened

Shares of Angel Oak Income ETF (NASDAQ:CARY) saw strong trading volume on Thursday. Approximately 3,488,214 shares traded hands during trading, an increase of 729% from the average daily volume of 420,614 shares. The stock last traded at $20.3550 and had previously closed at $20.33.

Angel Oak Income ETF Stock Up 0.1%

The firm has a fifty day moving average of $20.40 and a two-hundred day moving average of $20.73.

Angel Oak Income ETF’s stock is going to reverse split on the morning of Monday, November 16th. The 1-3 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, November 15th.

Angel Oak Income ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Thursday, October 1st. Stockholders of record on Wednesday, September 30th were paid a $0.1025 dividend. The ex-dividend date was Wednesday, September 30th. This is a positive change from Angel Oak Income ETF’s previous monthly dividend of $0.0931. This represents a $1.23 annualized dividend and a dividend yield of 6.0%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Bank of America Corp DE increased its holdings in 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 acquiring an additional 4,947,167 shares during the period. Arkadios Wealth Advisors boosted its holdings in Angel Oak Income ETF by 13.7% in the 1st quarter. Arkadios Wealth Advisors now owns 3,562,484 shares of the company’s stock valued at $74,003,000 after purchasing an additional 428,745 shares during the period. IFC Advisors LLC bought a new position in Angel Oak Income ETF in the 1st quarter valued at $61,717,000. Envestnet Asset Management Inc. boosted its holdings in Angel Oak Income ETF by 103.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,107,410 shares of the company’s stock valued at $23,012,000 after purchasing an additional 563,831 shares during the period. Finally, Sage Advisory Services Ltd.Co. grew its position in shares of Angel Oak Income ETF by 187.2% during the 3rd quarter. Sage Advisory Services Ltd.Co. now owns 787,954 shares of the company’s stock valued at $15,854,000 after purchasing an additional 513,594 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.