iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Short Interest Update

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) was the target of a large increase in short interest in July. As of July 15th, there was short interest totaling 1,172,679 shares, an increase of 62.2% from the June 30th total of 722,804 shares. Approximately 1.9% of the shares of the stock are sold short. Based on an average daily volume of 646,136 shares, the days-to-cover ratio is presently 1.8 days.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FALN. Capital Wealth Management LLC raised its stake in shares of iShares Fallen Angels USD Bond ETF by 9.3% during the second quarter. Capital Wealth Management LLC now owns 266,540 shares of the company’s stock valued at $7,261,000 after acquiring an additional 22,743 shares during the last quarter. HF Advisory Group LLC increased its holdings in iShares Fallen Angels USD Bond ETF by 9.4% in the second quarter. HF Advisory Group LLC now owns 294,108 shares of the company’s stock valued at $8,012,000 after purchasing an additional 25,308 shares during the period. Client First Investment Management LLC acquired a new stake in iShares Fallen Angels USD Bond ETF in the second quarter valued at $3,790,000. Breakwater Capital Group increased its holdings in iShares Fallen Angels USD Bond ETF by 7.3% in the second quarter. Breakwater Capital Group now owns 385,762 shares of the company’s stock valued at $10,508,000 after purchasing an additional 26,127 shares during the period. Finally, Beacon Financial Strategies CORP bought a new position in iShares Fallen Angels USD Bond ETF during the 2nd quarter worth $50,000.

iShares Fallen Angels USD Bond ETF Price Performance

Shares of NASDAQ:FALN opened at $26.92 on Friday. The firm has a 50 day simple moving average of $27.07 and a 200 day simple moving average of $27.14. iShares Fallen Angels USD Bond ETF has a one year low of $26.37 and a one year high of $27.79.

iShares Fallen Angels USD Bond ETF Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Wednesday, July 1st were issued a dividend of $0.141 per share. The ex-dividend date was Wednesday, July 1st. This represents a c) annualized dividend and a dividend yield of 6.3%.

About iShares Fallen Angels USD Bond ETF

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.