Michael Fierman, who serves as Investment Adviser Principal at Angel Oak Financial Strategies Income Term Trust (NYSE: FINS), disclosed multiple purchases of the trust's common stock across several transactions late in 2025. Those transactions increased Fierman’s direct ownership in the trust to 125,420 shares.
The reported buys occurred on three dates: on November 6, 2025 he purchased 313 shares at $13.15; on November 7, 2025 he added 15,898 shares at $13.20; and on December 12, 2025 he acquired 9 shares at $13.09. The aggregate cost of these transactions was $214,087, with per-share prices ranging from $13.09 to $13.20. At the time of the purchases, FINS was trading close to its 52-week high of $13.64.
Market metrics published alongside the transaction details show the trust carries a $439 million market capitalization and a price-to-earnings ratio of 8.34, placing it below many of its financial sector counterparts on that valuation measure. Additional financial indicators noted include a dividend yield of 10.49% and a low historical price volatility measured by a Beta of 0.21.
Those income and volatility characteristics were presented as potential explanations for the insider accumulation, although no explicit rationale from Fierman was included in the disclosures. The public filing details the exact share counts and prices and confirms the post-transaction direct ownership figure of 125,420 shares.
Separately, the trust's board of trustees announced it will postpone the annual shareholder meeting. The board framed the decision as providing shareholders a respite after a sequence of atypical corporate events earlier in the year, specifically citing a rights offering in May and a special meeting held in September. A contested annual meeting that took place in June was also referenced in the announcement. The company has not yet set a new date for the postponed meeting and said that timing details will be disclosed later.
The announcement reiterated procedural requirements under the trust’s bylaws: shareholders must submit nominations or other business proposals within specified timeframes relative to the meeting date, and any shareholder proposals for the 2026 annual meeting must comply with applicable securities laws.
The reported insider purchases, the trust's headline financial metrics, and the postponement of the annual meeting together form the current public narrative around FINS. No further commentary or forward-looking statements were included in the filings or the board’s announcement.