VanEck Fallen Angel High Yield Bond ETF (NASDAQ:ANGL) Sets New 12-Month Low – Time to Sell?

VanEck Fallen Angel High Yield Bond ETF (NASDAQ:ANGL)’s share price reached a new 52-week low during trading on Wednesday . The company traded as low as $28.35 and last traded at $28.3450, with a volume of 293934 shares. The stock had previously closed at $28.56.

VanEck Fallen Angel High Yield Bond ETF Price Performance

The stock’s 50-day moving average is $28.87 and its two-hundred day moving average is $28.98. The company has a market cap of $3.16 billion, a P/E ratio of 59.37 and a beta of 0.42.

VanEck Fallen Angel High Yield Bond ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Friday, September 4th. Stockholders of record on Tuesday, September 1st were paid a $0.159 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date was Tuesday, September 1st.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Parkside Financial Bank & Trust purchased a new position in VanEck Fallen Angel High Yield Bond ETF during the 2nd quarter valued at $38,000. Western Wealth Management LLC purchased a new position in VanEck Fallen Angel High Yield Bond ETF during the 1st quarter valued at about $49,000. Compass Financial Management LLC bought a new position in VanEck Fallen Angel High Yield Bond ETF in the second quarter worth approximately $82,000. Ameritas Advisory Services LLC purchased a new stake in shares of VanEck Fallen Angel High Yield Bond ETF during the 2nd quarter worth $92,000. Finally, SHP Wealth Management bought a new stake in shares of VanEck Fallen Angel High Yield Bond ETF in the 4th quarter valued at about $98,000.

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.