iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Short Interest Up 62.2% in July

iShares Fallen Angels USD Bond ETF (NASDAQ:FALNGet Free Report) was the recipient of a large increase in short interest during the month of 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. Based on an average daily volume of 646,136 shares, the days-to-cover ratio is presently 1.8 days. Approximately 1.9% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FALN. Capital Wealth Management LLC grew its position in shares of iShares Fallen Angels USD Bond ETF by 9.3% during the 2nd 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 period. HF Advisory Group LLC raised its holdings in shares of iShares Fallen Angels USD Bond ETF by 9.4% in the 2nd quarter. HF Advisory Group LLC now owns 294,108 shares of the company’s stock worth $8,012,000 after purchasing an additional 25,308 shares during the period. Client First Investment Management LLC purchased a new position in iShares Fallen Angels USD Bond ETF in the second quarter valued at approximately $3,790,000. Breakwater Capital Group lifted its stake 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 last quarter. Finally, Beacon Financial Strategies CORP bought a new position in iShares Fallen Angels USD Bond ETF during the second quarter valued at $50,000.

iShares Fallen Angels USD Bond ETF Trading Down 0.1%

Shares of NASDAQ FALN traded down $0.03 during mid-day trading on Friday, reaching $26.92. 535,008 shares of the company’s stock were exchanged, compared to its average volume of 1,122,355. The firm has a 50-day moving average price of $27.07 and a two-hundred day moving average price of $27.15. iShares Fallen Angels USD Bond ETF has a 52 week low of $26.37 and a 52 week high of $27.79.

iShares Fallen Angels USD Bond ETF Cuts Dividend

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

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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