FINS News and Press, Angel Oak Financial Strategies Income Term Trust of Beneficial Interest From 09/30/22

Summary The Fed made another 75bp hike and remains committed to reining in inflation as quickly as possible. This suggests a "higher for longer" monetary policy rate approach, which would keep the policy rate both high and elevated over the medium term. It also increases the l...

Summary The price action in the CEF market has been brutal over the month of September. We highlight some of the broader CEF market indicators to place the current drawdown in context. We remain cautious on equity CEF sectors and longer-duration credit sectors, particularly th...

Summary We review CEF market valuation and performance through the third week of September and highlight recent market action. CEFs had a tough week due to an upside surprise in inflation which pushed nearly all assets lower. We discuss why rising CEF leverage costs cannot exp...

Summary The income market has gyrated widely this year in response to changing market conditions and Fed's stance. We discuss why we didn't chase the June-August rally and why we are now seeing value reemerge in this latest bout of weakness. We currently view selective decent-...

Summary We review CEF market valuation and performance through the first full week of September and highlight recent market action. CEFs had a decent week as most of the space was able to easily digest higher Treasury yields. We discuss why the loan CEF sector discount has und...

Summary Two key trends this year have been a rise in interest rates and a widening in credit spreads. These trends have supported higher-quality, floating-rate assets. FINS allocates primarily to these assets and this has allowed it to outperform most other credit CEFs. We...

Summary 0 out of 23 CEF sectors positive on price and 0 out of 23 sectors positive on NAV last week. U.S. equities were the worst-performing CEF sector. SMM will be merged with SMLPX. Author’s note: This article was released to CEF/ETF Income Laboratory memb...

Angel Oak Financial Strategies Income Term ( NYSE: FINS ) declares $0.095/share monthly dividend , -12.4% decrease from prior dividend of $0.108. Forward yield 7.98% Payable Sept. 30; for shareholders of record Sept. 16; ex-div Sept. 15. See FINS Dividend...

Angel Oak Financial Strategies Income Term Trust (the “Fund”), a closed-end fund traded on the New York Stock Exchange under the symbol FINS, today declared a distribution of $0.095 per share for the month of September 2022. The record date for the distribution is Septembe...

Summary 1 out of 23 CEF sectors positive on price and 1 out of 23 sectors positive on NAV last week. MLPs lead while commodities lag. MLPs are the most discounted CEF sector. Author’s note: This article was released to CEF/ETF Income Laboratory members on Au...