Angel Oak Income ETF (NASDAQ:CARY) Sees Large Volume Increase Following Dividend Announcement

Angel Oak Income ETF (NASDAQ:CARY) shares saw an uptick in trading volume on Thursday after the company announced a dividend. 3,488,214 shares were traded during mid-day trading, an increase of 729% from the average daily volume of 420,614 shares. The stock last traded at $20.3550 and had previously closed at $20.33.

The newly announced dividend which will be paid on Monday, November 2nd. Investors of record on Friday, October 30th will be given a dividend of $0.1044 per share. This is an increase from Angel Oak Income ETF’s previous monthly dividend of $0.1025. This represents a $1.25 annualized dividend and a dividend yield of 6.2%. The ex-dividend date is Friday, October 30th.

Angel Oak Income ETF Stock Down 0.2%

The stock has a fifty day moving average of $20.38 and a 200 day moving average of $20.73.

Shares of Angel Oak Income ETF are going to reverse split on Monday, November 16th. The 1-3 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, November 15th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CARY. Central Pacific Bank Trust Division grew its holdings in shares of Angel Oak Income ETF by 36.9% in the third quarter. Central Pacific Bank Trust Division now owns 178,995 shares of the company’s stock worth $3,601,000 after purchasing an additional 48,215 shares during the last quarter. IFC Advisors LLC bought a new stake in shares of Angel Oak Income ETF during the first quarter valued at approximately $61,717,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in Angel Oak Income ETF by 100.5% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 51,747 shares of the company’s stock worth $1,075,000 after purchasing an additional 25,940 shares in the last quarter. Sonoma Allocations LLC grew its stake in Angel Oak Income ETF by 41.8% in the first quarter. Sonoma Allocations LLC now owns 108,778 shares of the company’s stock worth $2,263,000 after purchasing an additional 32,061 shares in the last quarter. Finally, Independent Wealth Advisors LLC purchased a new position in Angel Oak Income ETF during the 1st quarter worth $559,000.

About Angel Oak Income ETF

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.