Orsted considers €5 billion rights offering to strengthen finances - Bloomberg
In a recent transaction, Kevin Parks, a portfolio manager at Angel Oak Capital Advisors, acquired 1,000 shares of common stock in Angel Oak Financial Strategies Income Term Trust (NYSE:FINS). The shares were purchased at a price of $12.83 each, amounting to a total investment of $12,830. Following this transaction, Parks now owns 5,667 shares directly. The trust, with a market capitalization of $321.8 million, has delivered a solid 13.5% return over the past year while maintaining an attractive P/E ratio of 8.3. This acquisition reflects Parks’ continued involvement with the trust, which focuses on financial strategies and income generation. The trust currently offers an impressive 10.2% dividend yield and features notably low price volatility with a beta of 0.23. According to InvestingPro, which offers 3 additional key insights about FINS, the trust maintains strong profitability metrics while paying significant dividends to shareholders.
In other recent news, Angel Oak Financial Strategies Income Term Trust has announced a rights offering for its common shares. This initiative allows shareholders of record to subscribe for up to 8,354,213 common shares of beneficial interest. Shareholders will receive one right for each share owned, with the option to purchase one new common share for every three rights held. The rights offering is supported by agreements with Angel Oak Capital Advisors, LLC and UBS Securities LLC, effective immediately. Furthermore, Equiniti Trust Company, LLC and EQ Fund Solutions, LLC have been engaged to manage subscription and information services. The Trust has ensured compliance by filing all necessary documents with the SEC, including the dealer manager agreement and other relevant agreements, which are available for public review. Legal aspects of the offering have been confirmed by Dechert LLP, as stated in the Trust’s filings. This development provides existing shareholders an opportunity to increase their investment under the terms outlined in the offering documents.
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