iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Sees Significant Increase in Short Interest
by Amy Steele · The Cerbat GemiShares Fallen Angels USD Bond ETF (NASDAQ:FALN – Get Free Report) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totaling 1,928,629 shares, a growth of 1,723.5% from the March 15th total of 105,763 shares. Based on an average daily volume of 2,726,971 shares, the days-to-cover ratio is currently 0.7 days. Currently, 2.8% of the company’s shares are short sold.
iShares Fallen Angels USD Bond ETF Stock Performance
FALN stock traded down $0.09 during midday trading on Friday, hitting $27.03. The company had a trading volume of 815,589 shares, compared to its average volume of 1,306,559. The stock’s 50 day moving average price is $27.13 and its 200 day moving average price is $27.35. iShares Fallen Angels USD Bond ETF has a 52 week low of $25.41 and a 52 week high of $27.79.
iShares Fallen Angels USD Bond ETF Cuts Dividend
The company also recently disclosed a monthly dividend, which was paid on Tuesday, April 7th. Shareholders of record on Wednesday, April 1st were issued a $0.142 dividend. The ex-dividend date was Wednesday, April 1st. This represents a c) dividend on an annualized basis and a yield of 6.3%.
Hedge Funds Weigh In On iShares Fallen Angels USD Bond ETF
A number of institutional investors have recently added to or reduced their stakes in the company. Corient Private Wealth LLC increased its holdings in shares of iShares Fallen Angels USD Bond ETF by 17.2% during the fourth quarter. Corient Private Wealth LLC now owns 11,268 shares of the company’s stock valued at $308,000 after acquiring an additional 1,657 shares in the last quarter. Aristides Capital LLC increased its holdings in shares of iShares Fallen Angels USD Bond ETF by 4.5% during the fourth quarter. Aristides Capital LLC now owns 20,548 shares of the company’s stock valued at $561,000 after acquiring an additional 890 shares in the last quarter. Mcguire Capital Advisors Inc. bought a new position in shares of iShares Fallen Angels USD Bond ETF during the fourth quarter valued at $102,000. Invesco Ltd. boosted its position in shares of iShares Fallen Angels USD Bond ETF by 33.4% during the fourth quarter. Invesco Ltd. now owns 1,411,465 shares of the company’s stock valued at $38,533,000 after buying an additional 353,615 shares during the last quarter. Finally, First Citizens Bank & Trust Co. boosted its position in shares of iShares Fallen Angels USD Bond ETF by 5.5% during the fourth quarter. First Citizens Bank & Trust Co. now owns 91,853 shares of the company’s stock valued at $2,508,000 after buying an additional 4,829 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.