Summit Investment Advisors Inc. Purchases 3,585 Shares of VanEck Fallen Angel High Yield Bond ETF (NASDAQ:ANGL)

Summit Investment Advisors Inc. grew its position in VanEck Fallen Angel High Yield Bond ETF (NASDAQ:ANGL) by 9.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,624 shares of the company’s stock after acquiring an additional 3,585 shares during the period. Summit Investment Advisors Inc.’s holdings in VanEck Fallen Angel High Yield Bond ETF were worth $1,165,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Crux Wealth Advisors bought a new position in VanEck Fallen Angel High Yield Bond ETF in the 4th quarter valued at $491,000. Jaffetilchin Investment Partners LLC raised its holdings in shares of VanEck Fallen Angel High Yield Bond ETF by 1.6% in the fourth quarter. Jaffetilchin Investment Partners LLC now owns 29,371 shares of the company’s stock valued at $842,000 after buying an additional 462 shares during the last quarter. Scotia Capital Inc. lifted its position in VanEck Fallen Angel High Yield Bond ETF by 2.1% during the 4th quarter. Scotia Capital Inc. now owns 629,094 shares of the company’s stock worth $18,036,000 after buying an additional 13,209 shares in the last quarter. Raymond James Financial Inc. bought a new stake in VanEck Fallen Angel High Yield Bond ETF during the 4th quarter worth about $19,086,000. Finally, Bernard Wealth Management Corp. acquired a new stake in VanEck Fallen Angel High Yield Bond ETF in the 4th quarter valued at about $193,000.

VanEck Fallen Angel High Yield Bond ETF Stock Performance

NASDAQ:ANGL opened at $27.88 on Thursday. The company has a market cap of $2.82 billion, a price-to-earnings ratio of 57.90 and a beta of 0.52. VanEck Fallen Angel High Yield Bond ETF has a 52-week low of $26.92 and a 52-week high of $29.47. The stock’s fifty day moving average price is $28.64 and its two-hundred day moving average price is $28.86.

VanEck Fallen Angel High Yield Bond ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, April 4th. Investors of record on Tuesday, April 1st were given a $0.1578 dividend. This represents a $1.89 dividend on an annualized basis and a yield of 6.79%. This is a positive change from VanEck Fallen Angel High Yield Bond ETF’s previous monthly dividend of $0.16. The ex-dividend date of this dividend was Tuesday, April 1st.

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.