Short Interest in VanEck Fallen Angel High Yield Bond ETF (NASDAQ:ANGL) Drops By 70.9%

VanEck Fallen Angel High Yield Bond ETF (NASDAQ:ANGL) was the recipient of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 170,000 shares, a drop of 70.9% from the October 31st total of 584,800 shares. Based on an average daily volume of 770,500 shares, the days-to-cover ratio is currently 0.2 days.

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

Large investors have recently made changes to their positions in the stock. Triad Wealth Partners LLC purchased a new stake in VanEck Fallen Angel High Yield Bond ETF in the second quarter valued at approximately $25,000. EverSource Wealth Advisors LLC raised its holdings in shares of VanEck Fallen Angel High Yield Bond ETF by 138.8% during the second quarter. EverSource Wealth Advisors LLC now owns 898 shares of the company’s stock worth $26,000 after purchasing an additional 522 shares during the last quarter. Assetmark Inc. lifted its position in VanEck Fallen Angel High Yield Bond ETF by 281.2% during the third quarter. Assetmark Inc. now owns 1,357 shares of the company’s stock valued at $40,000 after purchasing an additional 1,001 shares during the period. Fortitude Family Office LLC purchased a new stake in VanEck Fallen Angel High Yield Bond ETF in the third quarter valued at $45,000. Finally, Gleason Group Inc. acquired a new stake in VanEck Fallen Angel High Yield Bond ETF during the 2nd quarter worth about $55,000.

VanEck Fallen Angel High Yield Bond ETF Stock Performance

ANGL stock traded up $0.08 during trading on Friday, reaching $29.26. The company had a trading volume of 252,631 shares, compared to its average volume of 997,038. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 0.48 and a beta of 0.52. VanEck Fallen Angel High Yield Bond ETF has a twelve month low of $26.98 and a twelve month high of $29.47. The firm has a 50-day simple moving average of $29.09 and a 200-day simple moving average of $28.86.

VanEck Fallen Angel High Yield Bond ETF Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Friday, November 1st were issued a $0.1568 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.43%.

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.