VanEck Fallen Angel High Yield Bond ETF (NASDAQ:ANGL) Reaches New 52-Week Low – Should You Sell?

VanEck Fallen Angel High Yield Bond ETF (NASDAQ:ANGL) reached a new 52-week low on Tuesday. The stock traded as low as $27.97 and last traded at $28.01, with a volume of 1254549 shares changing hands. The stock had previously closed at $28.15.

VanEck Fallen Angel High Yield Bond ETF Trading Down 0.4%

The firm has a market cap of $3.06 billion, a P/E ratio of 59.37 and a beta of 0.42. The business has a 50-day moving average of $28.76 and a two-hundred day moving average of $28.94.

VanEck Fallen Angel High Yield Bond ETF Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Thursday, October 1st will be paid a dividend of $0.1583 per share. The ex-dividend date of this dividend is Thursday, October 1st. This is a negative change from VanEck Fallen Angel High Yield Bond ETF’s previous monthly dividend of $0.1590. This represents a $1.90 dividend on an annualized basis and a dividend yield of 6.8%.

Institutional Trading of VanEck Fallen Angel High Yield Bond ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Ocean Park Asset Management LLC bought a new position in shares of VanEck Fallen Angel High Yield Bond ETF in the 2nd quarter worth about $17,401,000. Storen Legacy Partners LLC bought a new stake in shares of VanEck Fallen Angel High Yield Bond ETF during the 4th quarter valued at about $16,729,000. Janney Montgomery Scott LLC boosted its position in shares of VanEck Fallen Angel High Yield Bond ETF by 1,633.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 433,373 shares of the company’s stock valued at $12,446,000 after purchasing an additional 408,373 shares in the last quarter. WCG Wealth Advisors LLC grew its stake in VanEck Fallen Angel High Yield Bond ETF by 813.6% during the fourth quarter. WCG Wealth Advisors LLC now owns 296,532 shares of the company’s stock worth $8,708,000 after purchasing an additional 264,076 shares during the period. Finally, Allianz SE acquired a new stake in VanEck Fallen Angel High Yield Bond ETF during the fourth quarter worth approximately $7,284,000.

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.