iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Sees Unusually-High Trading Volume – Here’s What Happened

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) shares saw strong trading volume on Monday . 1,828,344 shares changed hands during mid-day trading, an increase of 141% from the previous session’s volume of 758,541 shares.The stock last traded at $27.4750 and had previously closed at $27.45.

iShares Fallen Angels USD Bond ETF Stock Performance

The business’s fifty day simple moving average is $27.44 and its 200 day simple moving average is $27.42.

iShares Fallen Angels USD Bond ETF Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Thursday, February 5th. Investors of record on Monday, February 2nd were paid a dividend of $0.1473 per share. This represents a c) annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend was Monday, February 2nd. This is a boost from iShares Fallen Angels USD Bond ETF’s previous monthly dividend of $0.15.

Hedge Funds Weigh In On iShares Fallen Angels USD Bond ETF

Several institutional investors have recently modified their holdings of the business. Bank of America Corp DE raised its holdings in iShares Fallen Angels USD Bond ETF by 14.7% during the 3rd quarter. Bank of America Corp DE now owns 6,877,280 shares of the company’s stock worth $191,051,000 after buying an additional 883,753 shares during the period. Municipal Employees Retirement System of Michigan increased its holdings in iShares Fallen Angels USD Bond ETF by 5.2% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 3,657,064 shares of the company’s stock worth $99,838,000 after purchasing an additional 180,505 shares in the last quarter. State of Tennessee Department of Treasury lifted its holdings in shares of iShares Fallen Angels USD Bond ETF by 20.5% in the second quarter. State of Tennessee Department of Treasury now owns 3,428,800 shares of the company’s stock valued at $93,058,000 after purchasing an additional 582,591 shares in the last quarter. LPL Financial LLC raised its position in iShares Fallen Angels USD Bond ETF by 54.7% in the 4th quarter. LPL Financial LLC now owns 2,429,052 shares of the company’s stock valued at $66,313,000 after buying an additional 858,396 shares during the last quarter. Finally, Allworth Financial LP boosted its position in iShares Fallen Angels USD Bond ETF by 4.0% during the 3rd quarter. Allworth Financial LP now owns 1,332,768 shares of the company’s stock worth $37,024,000 after acquiring an additional 51,119 shares during the last quarter.

iShares Fallen Angels USD Bond ETF Company Profile

The iShares Fallen Angels USD Bond ETF (FALN) 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. FALN was launched on Jun 14, 2016 and is managed by BlackRock.