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

VanEck Fallen Angel High Yield Bond ETF (NASDAQ:ANGL) shares saw strong trading volume on Wednesday . 8,471,360 shares changed hands during trading, an increase of 811% from the previous session’s volume of 929,479 shares.The stock last traded at $28.98 and had previously closed at $28.89.

VanEck Fallen Angel High Yield Bond ETF Price Performance

The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 60.80 and a beta of 0.52. The firm’s fifty day moving average is $28.89 and its 200-day moving average is $29.01.

VanEck Fallen Angel High Yield Bond ETF Cuts Dividend

The business also recently declared a dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, March 3rd were given a dividend of $0.1361 per share. The ex-dividend date of this dividend was Monday, March 3rd.

Institutional Trading of VanEck Fallen Angel High Yield Bond ETF

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE increased its holdings in shares of VanEck Fallen Angel High Yield Bond ETF by 11.6% in the 4th quarter. Bank of America Corp DE now owns 9,470,412 shares of the company’s stock valued at $271,517,000 after acquiring an additional 984,949 shares during the last quarter. State of Tennessee Department of Treasury increased its stake in VanEck Fallen Angel High Yield Bond ETF by 4.0% during the fourth quarter. State of Tennessee Department of Treasury now owns 5,129,285 shares of the company’s stock valued at $147,057,000 after purchasing an additional 195,085 shares during the last quarter. LPL Financial LLC raised its holdings in shares of VanEck Fallen Angel High Yield Bond ETF by 7.0% during the third quarter. LPL Financial LLC now owns 3,772,806 shares of the company’s stock worth $110,958,000 after purchasing an additional 246,899 shares during the period. Capital Investment Advisors LLC raised its holdings in shares of VanEck Fallen Angel High Yield Bond ETF by 4.1% during the fourth quarter. Capital Investment Advisors LLC now owns 2,925,316 shares of the company’s stock worth $83,869,000 after purchasing an additional 116,162 shares during the period. Finally, Cerity Partners LLC lifted its position in shares of VanEck Fallen Angel High Yield Bond ETF by 1.7% in the 4th quarter. Cerity Partners LLC now owns 2,849,242 shares of the company’s stock worth $81,688,000 after buying an additional 46,829 shares during 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.