Municipal Employees Retirement System of Michigan Purchases Shares of 3,476,559 iShares Fallen Angels USD Bond ETF $FALN

Municipal Employees Retirement System of Michigan purchased a new stake in iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,476,559 shares of the company’s stock, valued at approximately $94,354,000. iShares Fallen Angels USD Bond ETF accounts for approximately 1.1% of Municipal Employees Retirement System of Michigan’s portfolio, making the stock its 18th biggest position. Municipal Employees Retirement System of Michigan owned approximately 5.12% of iShares Fallen Angels USD Bond ETF as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Wolff Wiese Magana LLC lifted its position in shares of iShares Fallen Angels USD Bond ETF by 86.9% during the second quarter. Wolff Wiese Magana LLC now owns 1,125 shares of the company’s stock valued at $31,000 after purchasing an additional 523 shares in the last quarter. Strategic Investment Solutions Inc. IL grew its stake in iShares Fallen Angels USD Bond ETF by 26.8% during the first quarter. Strategic Investment Solutions Inc. IL now owns 1,904 shares of the company’s stock valued at $51,000 after acquiring an additional 403 shares in the last quarter. Olde Wealth Management LLC bought a new stake in iShares Fallen Angels USD Bond ETF during the first quarter valued at approximately $53,000. Anderson Financial Strategies LLC bought a new stake in iShares Fallen Angels USD Bond ETF during the first quarter valued at approximately $55,000. Finally, Private Trust Co. NA lifted its holdings in shares of iShares Fallen Angels USD Bond ETF by 41.0% in the 2nd quarter. Private Trust Co. NA now owns 3,101 shares of the company’s stock worth $84,000 after acquiring an additional 901 shares during the last quarter.

iShares Fallen Angels USD Bond ETF Stock Performance

Shares of FALN opened at $27.73 on Wednesday. iShares Fallen Angels USD Bond ETF has a fifty-two week low of $24.82 and a fifty-two week high of $27.79. The firm has a 50 day moving average price of $27.53 and a 200-day moving average price of $26.96.

iShares Fallen Angels USD Bond ETF Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, October 6th. Shareholders of record on Wednesday, October 1st were given a dividend of $0.1435 per share. This represents a c) dividend on an annualized basis and a yield of 6.2%. The ex-dividend date of this dividend was Wednesday, October 1st. This is an increase from iShares Fallen Angels USD Bond ETF’s previous monthly dividend of $0.14.

iShares Fallen Angels USD Bond ETF 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.