Angel Oak Financial Strategies Income Term Trust (NYSE:FINS) Short Interest Update

Angel Oak Financial Strategies Income Term Trust (NYSE:FINS) saw a large growth in short interest in the month of May. As of May 15th, there was short interest totaling 30,027 shares, a growth of 97.8% from the April 30th total of 15,182 shares. Based on an average trading volume of 40,563 shares, the days-to-cover ratio is currently 0.7 days.

Angel Oak Financial Strategies Income Term Trust Stock Down 0.8%

FINS stock opened at $12.82 on Tuesday. The business’s 50-day moving average is $12.74 and its two-hundred day moving average is $12.99. Angel Oak Financial Strategies Income Term Trust has a 1 year low of $12.38 and a 1 year high of $13.55.

Angel Oak Financial Strategies Income Term Trust Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a dividend of $0.115 per share. This represents a c) annualized dividend and a dividend yield of 10.8%. The ex-dividend date of this dividend was Friday, May 15th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FINS. Royal Bank of Canada increased its position in Angel Oak Financial Strategies Income Term Trust by 2.9% during the first quarter. Royal Bank of Canada now owns 288,945 shares of the company’s stock worth $3,895,000 after buying an additional 8,146 shares during the period. Cetera Investment Advisers raised its stake in shares of Angel Oak Financial Strategies Income Term Trust by 3.7% during the second quarter. Cetera Investment Advisers now owns 36,783 shares of the company’s stock worth $477,000 after purchasing an additional 1,324 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Angel Oak Financial Strategies Income Term Trust during the second quarter worth approximately $76,000. First Trust Advisors LP raised its stake in shares of Angel Oak Financial Strategies Income Term Trust by 63.5% during the second 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. raised its stake in shares of Angel Oak Financial Strategies Income Term Trust by 36.7% during the second 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.