Angel Oak Financial Strategies Income Term Trust (NYSE:FINS) Shares Down 0.6% – Time to Sell?

Angel Oak Financial Strategies Income Term Trust (NYSE:FINS) shares dropped 0.6% during trading on Thursday . The company traded as low as $12.45 and last traded at $12.49. Approximately 51,562 shares changed hands during mid-day trading, an increase of 7% from the average daily volume of 47,982 shares. The stock had previously closed at $12.57.

Angel Oak Financial Strategies Income Term Trust Trading Down 0.6%

The business has a 50 day simple moving average of $12.74 and a two-hundred day simple moving average of $12.89.

Angel Oak Financial Strategies Income Term Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be paid a dividend of $0.115 per share. This represents a c) annualized dividend and a dividend yield of 11.0%. The ex-dividend date is Friday, July 17th.

Institutional Trading of Angel Oak Financial Strategies Income Term Trust

Hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada raised its holdings in Angel Oak Financial Strategies Income Term Trust by 2.9% in the first quarter. Royal Bank of Canada now owns 288,945 shares of the company’s stock valued at $3,895,000 after acquiring an additional 8,146 shares in the last quarter. Cetera Investment Advisers grew its holdings in Angel Oak Financial Strategies Income Term Trust by 3.7% during the 2nd quarter. Cetera Investment Advisers now owns 36,783 shares of the company’s stock worth $477,000 after acquiring an additional 1,324 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in Angel Oak Financial Strategies Income Term Trust during the 2nd quarter worth $76,000. First Trust Advisors LP increased its position in shares of Angel Oak Financial Strategies Income Term Trust by 63.5% in the 2nd quarter. First Trust Advisors LP now owns 140,399 shares of the company’s stock worth $1,822,000 after purchasing an additional 54,552 shares during the last quarter. Finally, Raymond James Financial Inc. increased its position in shares of Angel Oak Financial Strategies Income Term Trust by 36.7% in the 2nd quarter. Raymond James Financial Inc. now owns 80,095 shares of the company’s stock worth $1,040,000 after purchasing an additional 21,510 shares during 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.