Key Points
- Portfolio Manager Kevin Parks purchased 1,000 FINS shares at an average price of $12.53, increasing his direct ownership by 17.65% to 6,667 shares.
- FINS shares opened at $12.44 and remain near the lower end of their 12-month range of $12.38 to $13.55.
- The trust announced a monthly dividend of $0.115 per share, with an indicated annualized yield of approximately 11.1%; several institutional investors have also recently increased or initiated positions.
Angel Oak Financial Strategies Income Term Trust (NYSE:FINS - Get Free Report) Portfolio Manager Kevin Parks purchased 1,000 shares of Angel Oak Financial Strategies Income Term Trust stock in a transaction that occurred on Monday, September 14th. The stock was acquired at an average cost of $12.53 per share, with a total value of $12,530.00. Following the acquisition, the portfolio manager directly owned 6,667 shares in the company, valued at $83,537.51. This trade represents a 17.65% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Angel Oak Financial Strategies Income Term Trust Trading Down 0.4%
Shares of FINS stock opened at $12.44 on Tuesday. Angel Oak Financial Strategies Income Term Trust has a 12-month low of $12.38 and a 12-month high of $13.55. The business's 50 day moving average is $12.63 and its two-hundred day moving average is $12.72.
Angel Oak Financial Strategies Income Term Trust Dividend Announcement
The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.115 per share. The ex-dividend date is Wednesday, September 16th. This represents a c) dividend on an annualized basis and a dividend yield of 11.1%.
Hedge Funds Weigh In On Angel Oak Financial Strategies Income Term Trust
A number of large investors have recently added to or reduced their stakes in the stock. Riverbridge Partners LLC lifted its holdings in Angel Oak Financial Strategies Income Term Trust by 8.3% during the first quarter. Riverbridge Partners LLC now owns 233,477 shares of the company's stock valued at $2,977,000 after purchasing an additional 17,967 shares in the last quarter. First Trust Advisors LP raised its position in shares of Angel Oak Financial Strategies Income Term Trust by 8.4% during the 1st quarter. First Trust Advisors LP now owns 203,077 shares of the company's stock worth $2,589,000 after purchasing an additional 15,750 shares during the last quarter. Closed End Fund Advisors Inc. acquired a new position in shares of Angel Oak Financial Strategies Income Term Trust during the 4th quarter worth about $1,602,000. Corient Private Wealth LP lifted its stake in Angel Oak Financial Strategies Income Term Trust by 35.6% in the 2nd quarter. Corient Private Wealth LP now owns 40,666 shares of the company's stock valued at $521,000 after buying an additional 10,666 shares in the last quarter. Finally, Summit Asset Management LLC purchased a new position in Angel Oak Financial Strategies Income Term Trust in the 4th quarter valued at about $343,000.
About Angel Oak Financial Strategies Income Term Trust
(
Get Free Report)
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.
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