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Michael Fierman, the Investment Adviser Principal at Angel Oak Financial Strategies Income Term Trust (NYSE:FINS), a $330 million market cap company known for its attractive 9.93% dividend yield, recently increased his stake in the company. According to a recent SEC filing, Fierman acquired a total of 224 shares of common stock between May 14 and May 21, 2025. The purchases were made at prices ranging from $13.34 to $13.39 per share, amounting to a total investment of approximately $2,990. Following these transactions, Fierman now holds 109,200 shares directly. The stock, which trades with notably low volatility (Beta: 0.24) and a P/E ratio of 8.31, is currently trading near its 52-week high of $13.64. InvestingPro analysis reveals 6 additional key insights about FINS’s financial health and market position.
In other recent news, Angel Oak Financial Strategies Income Term Trust has announced the initiation of a rights offering to its shareholders. The Trust is issuing transferable rights, allowing shareholders to subscribe for up to 8,354,213 common shares. Shareholders will receive one right for each share they own, with the option to purchase one new common share for every three rights held. Those who fully exercise their rights can also subscribe for additional shares if any remain unclaimed. The offering is facilitated through a dealer manager agreement with Angel Oak Capital Advisors, LLC and UBS Securities LLC. Equiniti Trust Company, LLC and EQ Fund Solutions, LLC are managing subscription and information services, respectively. Legal aspects of the offering have been confirmed by Dechert LLP, and all relevant documents have been filed with the SEC for public review. This move aims to provide existing shareholders an opportunity to increase their investment in the Trust.
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