Angel Oak Financial Strategies Income Term Trust (NYSE:FINS) Stock Price Up 0.4% – Still a Buy?

Angel Oak Financial Strategies Income Term Trust (NYSE:FINS) rose 0.4% on Monday . The company traded as high as $12.71 and last traded at $12.69. 32,723 shares were traded during trading, a decline of 32% from the average session volume of 48,120 shares. The stock had previously closed at $12.64.

Angel Oak Financial Strategies Income Term Trust Price Performance

The stock has a 50-day simple moving average of $12.76 and a 200-day simple moving average of $12.94.

Angel Oak Financial Strategies Income Term Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be issued a $0.115 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a c) annualized dividend and a yield of 10.9%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FINS. Royal Bank of Canada raised its stake in shares of Angel Oak Financial Strategies Income Term Trust by 2.9% in the 1st quarter. Royal Bank of Canada now owns 288,945 shares of the company’s stock valued at $3,895,000 after purchasing an additional 8,146 shares in the last quarter. Cetera Investment Advisers grew its stake in Angel Oak Financial Strategies Income Term Trust by 3.7% in the second quarter. Cetera Investment Advisers now owns 36,783 shares of the company’s stock worth $477,000 after purchasing an additional 1,324 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in Angel Oak Financial Strategies Income Term Trust in the second quarter valued at about $76,000. First Trust Advisors LP increased its holdings in Angel Oak Financial Strategies Income Term Trust by 63.5% in the second quarter. First Trust Advisors LP now owns 140,399 shares of the company’s stock valued at $1,822,000 after buying an additional 54,552 shares during the last quarter. Finally, Raymond James Financial Inc. raised its stake in Angel Oak Financial Strategies Income Term Trust by 36.7% during the second quarter. Raymond James Financial Inc. now owns 80,095 shares of the company’s stock valued at $1,040,000 after buying an additional 21,510 shares in the last quarter.

Angel Oak Financial Strategies Income Term Trust Company Profile

Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) is a closed-end, diversified management investment trust that commenced operations in early 2023. Organized as a Delaware statutory trust, FINS is structured with a defined termination date, at which point the trust will liquidate and distribute remaining assets to shareholders. Shares of the trust trade on the New York Stock Exchange, providing investors access to a yield-oriented portfolio through a single security.

The trust seeks to generate current income principally through investments in a broad array of structured credit instruments.