Synovus Financial Corp Invests $323,000 in VanEck Fallen Angel High Yield Bond ETF (NASDAQ:ANGL)

Synovus Financial Corp bought a new stake in VanEck Fallen Angel High Yield Bond ETF (NASDAQ:ANGL) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,980 shares of the company’s stock, valued at approximately $323,000.

Other large investors have also modified their holdings of the company. Millennium Management LLC bought a new stake in VanEck Fallen Angel High Yield Bond ETF in the 2nd quarter valued at $21,998,000. Strategic Financial Concepts LLC increased its stake in VanEck Fallen Angel High Yield Bond ETF by 2,993.0% in the second quarter. Strategic Financial Concepts LLC now owns 557,519 shares of the company’s stock valued at $15,778,000 after acquiring an additional 539,494 shares during the period. Bank of Montreal Can raised its position in VanEck Fallen Angel High Yield Bond ETF by 482.2% in the second quarter. Bank of Montreal Can now owns 541,407 shares of the company’s stock worth $15,463,000 after purchasing an additional 448,415 shares in the last quarter. CHB Investment Group LLC bought a new position in VanEck Fallen Angel High Yield Bond ETF during the third quarter worth about $8,744,000. Finally, Integrated Wealth Concepts LLC lifted its stake in VanEck Fallen Angel High Yield Bond ETF by 54.4% during the third quarter. Integrated Wealth Concepts LLC now owns 802,677 shares of the company’s stock worth $23,607,000 after purchasing an additional 282,668 shares during the period.

VanEck Fallen Angel High Yield Bond ETF Trading Down 1.3 %

ANGL stock opened at $28.69 on Thursday. The firm has a market cap of $3.02 billion, a P/E ratio of 0.48 and a beta of 0.52. VanEck Fallen Angel High Yield Bond ETF has a 1-year low of $26.98 and a 1-year high of $29.47. The business’s 50 day moving average is $29.05 and its 200-day moving average is $28.91.

VanEck Fallen Angel High Yield Bond ETF Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Friday, November 1st were paid a dividend of $0.1568 per share. The ex-dividend date was Friday, November 1st. This represents a $1.88 annualized dividend and a yield of 6.56%.

VanEck Fallen Angel High Yield Bond ETF Profile

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.