iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Sees Strong Trading Volume – Still a Buy?

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) saw unusually-high trading volume on Wednesday . Approximately 2,167,433 shares traded hands during mid-day trading, an increase of 94% from the previous session’s volume of 1,119,771 shares.The stock last traded at $26.77 and had previously closed at $26.62.

iShares Fallen Angels USD Bond ETF Trading Up 0.4%

The company’s 50 day moving average is $27.33 and its 200-day moving average is $27.43.

iShares Fallen Angels USD Bond ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Thursday, March 5th. Stockholders of record on Monday, March 2nd were paid a dividend of $0.1506 per share. This is a boost from iShares Fallen Angels USD Bond ETF’s previous monthly dividend of $0.15. This represents a c) annualized dividend and a dividend yield of 6.8%. The ex-dividend date was Monday, March 2nd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FALN. Royal Bank of Canada boosted its stake in shares of iShares Fallen Angels USD Bond ETF by 32.3% during the 1st quarter. Royal Bank of Canada now owns 301,573 shares of the company’s stock valued at $8,079,000 after buying an additional 73,579 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of iShares Fallen Angels USD Bond ETF by 13.3% in the first quarter. NewEdge Advisors LLC now owns 14,703 shares of the company’s stock worth $394,000 after buying an additional 1,728 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of iShares Fallen Angels USD Bond ETF by 303.8% in the second quarter. Rockefeller Capital Management L.P. now owns 54,798 shares of the company’s stock worth $1,487,000 after buying an additional 41,228 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in iShares Fallen Angels USD Bond ETF by 2.8% in the second quarter. JPMorgan Chase & Co. now owns 45,912 shares of the company’s stock valued at $1,246,000 after acquiring an additional 1,269 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new position in iShares Fallen Angels USD Bond ETF during the 2nd quarter valued at $4,450,000.

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.