VanEck Fallen Angel High Yield Bond ETF (NASDAQ:ANGL) Sees Significant Increase in Short Interest

VanEck Fallen Angel High Yield Bond ETF (NASDAQ:ANGL) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 584,800 shares, a growth of 69.5% from the October 15th total of 345,000 shares. Based on an average trading volume of 760,300 shares, the days-to-cover ratio is presently 0.8 days.

VanEck Fallen Angel High Yield Bond ETF Trading Down 0.1 %

ANGL stock traded down $0.02 during mid-day trading on Friday, hitting $28.91. 184,066 shares of the company were exchanged, compared to its average volume of 1,006,081. The stock has a market capitalization of $3.04 billion, a PE ratio of 0.48 and a beta of 0.52. The business has a 50 day simple moving average of $29.12 and a 200-day simple moving average of $28.82. VanEck Fallen Angel High Yield Bond ETF has a 1-year low of $26.98 and a 1-year high of $29.47.

VanEck Fallen Angel High Yield Bond ETF Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Friday, November 1st were issued a dividend of $0.1568 per share. This represents a $1.88 dividend on an annualized basis and a yield of 6.51%. The ex-dividend date was Friday, November 1st.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Triad Wealth Partners LLC purchased a new stake in VanEck Fallen Angel High Yield Bond ETF during the 2nd quarter worth about $25,000. EverSource Wealth Advisors LLC lifted its stake in shares of VanEck Fallen Angel High Yield Bond ETF by 138.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 898 shares of the company’s stock valued at $26,000 after purchasing an additional 522 shares during the period. Assetmark Inc. lifted its position in VanEck Fallen Angel High Yield Bond ETF by 281.2% during the 3rd quarter. Assetmark Inc. now owns 1,357 shares of the company’s stock valued at $40,000 after acquiring an additional 1,001 shares during the period. Fortitude Family Office LLC bought a new position in shares of VanEck Fallen Angel High Yield Bond ETF in the third quarter worth approximately $45,000. Finally, Gleason Group Inc. purchased a new position in shares of VanEck Fallen Angel High Yield Bond ETF during the second quarter valued at approximately $55,000.

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.