VanEck Fallen Angel High Yield Bond ETF (NASDAQ:ANGL) Hits New 12-Month Low – Should You Sell?

VanEck Fallen Angel High Yield Bond ETF (NASDAQ:ANGL)’s share price hit a new 52-week low during trading on Wednesday. The stock traded as low as $27.25 and last traded at $27.32, with a volume of 1,772,763 shares trading hands. The stock had previously closed at $27.30.

VanEck Fallen Angel High Yield Bond ETF Price Performance

The company’s 50 day simple moving average is $28.37 and its 200 day simple moving average is $28.83. The company has a market capitalization of $2.98 billion, a PE ratio of 59.37 and a beta of 0.44.

VanEck Fallen Angel High Yield Bond ETF Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Tuesday, October 6th. Stockholders of record on Thursday, October 1st were issued a $0.1583 dividend. This represents a $1.90 annualized dividend and a dividend yield of 7.0%. The ex-dividend date was Thursday, October 1st. This is a negative change from VanEck Fallen Angel High Yield Bond ETF’s previous monthly dividend of $0.1590.

Institutional Investors Weigh In On VanEck Fallen Angel High Yield Bond ETF

Several hedge funds and other institutional investors have recently bought and sold shares of ANGL. Howard Financial Services LTD. lifted its position in VanEck Fallen Angel High Yield Bond ETF by 4.9% in the third quarter. Howard Financial Services LTD. now owns 708,506 shares of the company’s stock valued at $19,704,000 after acquiring an additional 32,933 shares during the last quarter. Wealthcare Advisory Partners LLC grew its holdings in shares of VanEck Fallen Angel High Yield Bond ETF by 2.8% during the second quarter. Wealthcare Advisory Partners LLC now owns 708,131 shares of the company’s stock worth $20,706,000 after purchasing an additional 19,295 shares during the last quarter. Ocean Park Asset Management LLC purchased a new position in shares of VanEck Fallen Angel High Yield Bond ETF during the second quarter worth about $17,401,000. Envestnet Asset Management Inc. grew its holdings in shares of VanEck Fallen Angel High Yield Bond ETF by 12.8% during the second quarter. Envestnet Asset Management Inc. now owns 587,488 shares of the company’s stock worth $17,178,000 after purchasing an additional 66,478 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of VanEck Fallen Angel High Yield Bond ETF by 8.3% during the first quarter. Cetera Investment Advisers now owns 480,849 shares of the company’s stock worth $13,810,000 after purchasing an additional 36,662 shares during the last quarter.

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.