Angel Oak Income ETF (NASDAQ:CARY) Sets New 52-Week Low – What’s Next?

Angel Oak Income ETF (NASDAQ:CARY)’s share price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $20.56 and last traded at $20.58, with a volume of 7830 shares trading hands. The stock had previously closed at $20.60.

Angel Oak Income ETF Stock Down 0.0%

The business’s fifty day simple moving average is $20.73 and its 200 day simple moving average is $20.82.

Angel Oak Income ETF Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 31st were paid a $0.0931 dividend. The ex-dividend date was Monday, August 31st. This represents a c) annualized dividend and a dividend yield of 5.4%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its holdings in shares of Angel Oak Income ETF by 103,779.5% in the 1st quarter. Bank of America Corp DE now owns 4,951,934 shares of the company’s stock worth $102,862,000 after purchasing an additional 4,947,167 shares in the last quarter. Morgan Stanley increased its stake in Angel Oak Income ETF by 49.8% during the 4th quarter. Morgan Stanley now owns 4,791,541 shares of the company’s stock valued at $99,786,000 after purchasing an additional 1,593,932 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Angel Oak Income ETF by 5.5% during the fourth quarter. Wells Fargo & Company MN now owns 3,915,782 shares of the company’s stock worth $81,548,000 after buying an additional 204,673 shares during the last quarter. Arkadios Wealth Advisors raised its holdings in Angel Oak Income ETF by 13.7% during the first quarter. Arkadios Wealth Advisors now owns 3,562,484 shares of the company’s stock worth $74,003,000 after buying an additional 428,745 shares during the last quarter. Finally, IFC Advisors LLC bought a new position in shares of Angel Oak Income ETF in the first quarter valued at $61,717,000.

Angel Oak Income ETF Company Profile

The Angel Oak Income ETF (CARY) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund that aims for current income by broadly investing in USD-denominated fixed income securities with a tilt towards structured products and residential mortgage. Securities could be of any credit quality or maturity. CARY was launched on Nov 7, 2022 and is issued by Angel Oak.