VanEck Fallen Angel High Yield Bond ETF (NASDAQ:ANGL) Hits New 12-Month High – Still a Buy?

VanEck Fallen Angel High Yield Bond ETF (NASDAQ:ANGL) shares reached a new 52-week high on Wednesday . The company traded as high as $29.80 and last traded at $29.7050, with a volume of 2619 shares traded. The stock had previously closed at $29.67.

VanEck Fallen Angel High Yield Bond ETF Stock Performance

The business has a 50 day simple moving average of $29.52 and a 200-day simple moving average of $29.45. The firm has a market cap of $3.14 billion, a price-to-earnings 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 Thursday, February 5th. Investors of record on Monday, February 2nd were given a dividend of $0.1591 per share. The ex-dividend date of this dividend was Monday, February 2nd. This represents a c) annualized dividend and a dividend yield of 6.4%.

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

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE raised its holdings in shares of VanEck Fallen Angel High Yield Bond ETF by 6.2% in the third quarter. Bank of America Corp DE now owns 20,594,595 shares of the company’s stock valued at $612,277,000 after purchasing an additional 1,193,879 shares during the last quarter. Capital Investment Advisors LLC grew its position in VanEck Fallen Angel High Yield Bond ETF by 9.8% in the 4th quarter. Capital Investment Advisors LLC now owns 3,657,979 shares of the company’s stock worth $107,417,000 after purchasing an additional 326,747 shares in the last quarter. Cerity Partners LLC grew its position in VanEck Fallen Angel High Yield Bond ETF by 5.1% in the 4th quarter. Cerity Partners LLC now owns 3,334,783 shares of the company’s stock worth $97,926,000 after purchasing an additional 163,292 shares in the last quarter. Southern Farm Bureau Life Insurance increased its stake in VanEck Fallen Angel High Yield Bond ETF by 110.1% in the 4th quarter. Southern Farm Bureau Life Insurance now owns 2,587,512 shares of the company’s stock valued at $76,045,000 after buying an additional 1,356,065 shares during the last quarter. Finally, Morgan Stanley lifted its position in shares of VanEck Fallen Angel High Yield Bond ETF by 3.4% during the 4th quarter. Morgan Stanley now owns 2,568,558 shares of the company’s stock worth $75,426,000 after buying an additional 83,928 shares in the last quarter.

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.