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

Shares of VanEck Fallen Angel High Yield Bond ETF (NASDAQ:ANGL) saw unusually-strong trading volume on Thursday . Approximately 1,488,885 shares changed hands during mid-day trading, an increase of 74% from the previous session’s volume of 856,879 shares.The stock last traded at $28.2050 and had previously closed at $28.31.

VanEck Fallen Angel High Yield Bond ETF Stock Performance

The company has a market capitalization of $3.14 billion, a PE ratio of 59.37 and a beta of 0.42. The company’s 50-day moving average is $28.86 and its 200 day moving average is $28.97.

VanEck Fallen Angel High Yield Bond ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Friday, September 4th. Stockholders of record on Tuesday, September 1st were issued a dividend of $0.159 per share. The ex-dividend date was Tuesday, September 1st. This represents a c) dividend on an annualized basis and a dividend yield of 6.8%.

Hedge Funds Weigh In On VanEck Fallen Angel High Yield Bond ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust bought a new stake in shares of VanEck Fallen Angel High Yield Bond ETF in the 2nd quarter worth $38,000. Western Wealth Management LLC bought a new position in shares of VanEck Fallen Angel High Yield Bond ETF during the first quarter valued at $49,000. Compass Financial Management LLC bought a new position in shares of VanEck Fallen Angel High Yield Bond ETF during the second quarter valued at $82,000. Ameritas Advisory Services LLC purchased a new stake in shares of VanEck Fallen Angel High Yield Bond ETF during the second quarter valued at $92,000. Finally, SHP Wealth Management purchased a new stake in shares of VanEck Fallen Angel High Yield Bond ETF during the fourth quarter valued at $98,000.

VanEck Fallen Angel High Yield Bond ETF Company Profile

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.