Angel Oak Income ETF (NASDAQ:CARY) Stock to Reverse Split on Monday, November 16th

Angel Oak Income ETF (NASDAQ:CARY)’s stock is going to reverse split before the market opens on Monday, November 16th. The 1-3 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, November 15th.

Angel Oak Income ETF Price Performance

Shares of CARY stock opened at $20.36 on Friday. Angel Oak Income ETF has a 12-month low of $20.07 and a 12-month high of $21.55. The business has a 50 day simple moving average of $20.34 and a 200 day simple moving average of $20.71.

Angel Oak Income ETF Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, November 2nd. Stockholders of record on Friday, October 30th were paid a $0.1044 dividend. The ex-dividend date was Friday, October 30th. This is a boost from Angel Oak Income ETF’s previous monthly dividend of $0.1025. This represents a $1.25 dividend on an annualized basis and a dividend yield of 6.2%.

Institutional Trading of Angel Oak Income ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its position in Angel Oak Income ETF by 103,779.5% in the 1st quarter. Bank of America Corp DE now owns 4,951,934 shares of the company’s stock worth $102,862,000 after buying an additional 4,947,167 shares during the period. Arkadios Wealth Advisors boosted its position in shares of 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 during the period. IFC Advisors LLC acquired a new stake in shares of Angel Oak Income ETF in the first quarter worth $61,717,000. Channel Wealth LLC grew its stake in shares of Angel Oak Income ETF by 4.8% in the third quarter. Channel Wealth LLC now owns 1,404,230 shares of the company’s stock worth $28,253,000 after acquiring an additional 64,880 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Angel Oak Income ETF by 103.7% in the second quarter. Envestnet Asset Management Inc. now owns 1,107,410 shares of the company’s stock worth $23,012,000 after acquiring an additional 563,831 shares during 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.