VanEck Fallen Angel High Yield Bond ETF (NASDAQ:ANGL) Reaches New 1-Year Low – Should You Sell?

Shares of VanEck Fallen Angel High Yield Bond ETF (NASDAQ:ANGL – Get Free Report) hit a new 52-week low during trading on Wednesday. The stock traded as low as $28.35 and last traded at $28.3450, with a volume of 293934 shares traded. The stock had previously closed at $28.56.

VanEck Fallen Angel High Yield Bond ETF Stock Performance

The firm’s 50 day moving average price is $28.84 and its two-hundred day moving average price is $28.97. The company has a market cap of $3.14 billion, a P/E ratio of 59.37 and a beta of 0.42.

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VanEck Fallen Angel High Yield Bond ETF Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Friday, September 4th. Shareholders of record on Tuesday, September 1st were issued a $0.1590 dividend. The ex-dividend date was Tuesday, September 1st. This is a negative change from VanEck Fallen Angel High Yield Bond ETF’s previous monthly dividend of $0.1684. This represents a $1.91 dividend on an annualized basis and a yield of 6.8%.

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

Several institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. boosted its position in shares of VanEck Fallen Angel High Yield Bond ETF by 12.8% during the 2nd 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 in the last quarter. Tidal Investments LLC increased its position in VanEck Fallen Angel High Yield Bond ETF by 20.5% in the 2nd quarter. Tidal Investments LLC now owns 293,253 shares of the company’s stock valued at $8,575,000 after buying an additional 49,904 shares in the last quarter. IFP Advisors Inc increased its position in VanEck Fallen Angel High Yield Bond ETF by 12.0% in the 2nd quarter. IFP Advisors Inc now owns 31,176 shares of the company’s stock valued at $912,000 after buying an additional 3,335 shares in the last quarter. Performa Ltd US LLC increased its position in VanEck Fallen Angel High Yield Bond ETF by 3.9% in the 2nd quarter. Performa Ltd US LLC now owns 123,913 shares of the company’s stock valued at $3,623,000 after buying an additional 4,696 shares in the last quarter. Finally, Waverly Advisors LLC raised its stake in VanEck Fallen Angel High Yield Bond ETF by 8.3% during the 2nd quarter. Waverly Advisors LLC now owns 62,675 shares of the company’s stock worth $1,833,000 after buying an additional 4,786 shares during the period.

About VanEck Fallen Angel High Yield Bond ETF

(Get Free Report)

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.

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