Short Interest in iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Increases By 1,917.5%

iShares Fallen Angels USD Bond ETF (NASDAQ:FALNGet Free Report) was the target of a large growth in short interest in June. As of June 30th, there was short interest totaling 722,804 shares, a growth of 1,917.5% from the June 15th total of 35,827 shares. Based on an average daily trading volume, of 725,256 shares, the days-to-cover ratio is presently 1.0 days. Currently, 1.2% of the company’s stock are sold short.

iShares Fallen Angels USD Bond ETF Stock Performance

Shares of FALN stock traded down $0.04 on Friday, hitting $27.08. The stock had a trading volume of 251,925 shares, compared to its average volume of 1,167,010. The business has a 50 day moving average price of $27.07 and a 200 day moving average price of $27.18. 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 firm also recently declared a monthly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Wednesday, July 1st were issued a $0.141 dividend. The ex-dividend date was Wednesday, July 1st. This represents a c) annualized dividend and a dividend yield of 6.3%.

Institutional Investors Weigh In On iShares Fallen Angels USD Bond ETF

Several hedge funds have recently modified their holdings of the business. Royal Bank of Canada increased its holdings in iShares Fallen Angels USD Bond ETF by 32.3% during the first 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 period. NewEdge Advisors LLC raised its stake in 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 in the last quarter. JPMorgan Chase & Co. lifted its holdings in iShares Fallen Angels USD Bond ETF by 2.8% during the second quarter. JPMorgan Chase & Co. now owns 45,912 shares of the company’s stock worth $1,246,000 after buying an additional 1,269 shares during the period. Qube Research & Technologies Ltd purchased a new stake in iShares Fallen Angels USD Bond ETF during the second quarter worth $255,000. Finally, Diversify Wealth Management LLC boosted its position in iShares Fallen Angels USD Bond ETF by 3.0% during the 2nd quarter. Diversify Wealth Management LLC now owns 124,852 shares of the company’s stock valued at $3,382,000 after acquiring an additional 3,603 shares in the last quarter.

iShares Fallen Angels USD Bond ETF Company Profile

(Get Free Report)

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.

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