Angel Oak Financial Strategies Income Term Trust (NYSE:FINS) Sees Significant Drop in Short Interest

Angel Oak Financial Strategies Income Term Trust (NYSE:FINS) was the recipient of a large decline in short interest in September. As of September 30th, there was short interest totaling 26,541 shares, a decline of 36.2% from the September 15th total of 41,589 shares. Based on an average trading volume of 60,914 shares, the short-interest ratio is presently 0.4 days.

Angel Oak Financial Strategies Income Term Trust Stock Up 1.6%

Shares of FINS stock opened at $12.07 on Friday. Angel Oak Financial Strategies Income Term Trust has a 52-week low of $11.82 and a 52-week high of $13.45. The firm’s 50-day moving average is $12.34 and its 200-day moving average is $12.59.

Angel Oak Financial Strategies Income Term Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be given a $0.1150 dividend. This represents a $1.38 dividend on an annualized basis and a yield of 11.4%. The ex-dividend date is Friday, October 16th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FINS. Envestnet Asset Management Inc. lifted its holdings in Angel Oak Financial Strategies Income Term Trust by 25.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 300,777 shares of the company’s stock worth $3,850,000 after buying an additional 61,374 shares during the period. Mayflower Financial Advisors LLC acquired a new stake in shares of Angel Oak Financial Strategies Income Term Trust during the 1st quarter worth approximately $238,000. Riverbridge Partners LLC grew its holdings in Angel Oak Financial Strategies Income Term Trust by 8.3% in the first quarter. Riverbridge Partners LLC now owns 233,477 shares of the company’s stock worth $2,977,000 after purchasing an additional 17,967 shares during the period. First Trust Advisors LP increased its position in Angel Oak Financial Strategies Income Term Trust by 8.4% in the 1st quarter. First Trust Advisors LP now owns 203,077 shares of the company’s stock valued at $2,589,000 after buying an additional 15,750 shares in the last quarter. Finally, Susquehanna International Group LLP bought a new stake in shares of Angel Oak Financial Strategies Income Term Trust during the second quarter valued at approximately $145,000.

Angel Oak Financial Strategies Income Term Trust Company Profile

Angel Oak Financial Strategies Income Term Trust (NYSE:FINS) is a non-diversified, closed-end investment company managed by Angel Oak Capital Advisors, LLC. The fund seeks to provide investors with current income and, as a secondary objective, capital appreciation through a portfolio focused primarily on the financial services sector.

FINS invests in a range of income-producing financial securities, which may include corporate debt, bank loans, mortgage-related securities, asset-backed securities, collateralized loan obligations and other debt or equity investments issued by financial institutions and related companies.