iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Sees Large Increase in Short Interest

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN – Get Free Report) was the recipient of a significant growth in short interest during the month of May. As of May 29th, there was short interest totaling 555,816 shares, a growth of 840.1% from the May 14th total of 59,124 shares. Based on an average daily volume of 1,433,975 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.8% of the shares of the stock are sold short.

Institutional Investors Weigh In On iShares Fallen Angels USD Bond ETF

Large investors have recently added to or reduced their stakes in the stock. Dara Capital US Inc. bought a new stake in iShares Fallen Angels USD Bond ETF during the fourth quarter worth approximately $719,000. Petix & Botte Co increased its stake in iShares Fallen Angels USD Bond ETF by 13.6% during the third quarter. Petix & Botte Co now owns 189,919 shares of the company’s stock worth $5,276,000 after acquiring an additional 22,715 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of iShares Fallen Angels USD Bond ETF by 906.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 344,730 shares of the company’s stock valued at $9,463,000 after buying an additional 310,481 shares during the period. Stratos Wealth Partners LTD. purchased a new position in shares of iShares Fallen Angels USD Bond ETF during the fourth quarter valued at approximately $7,744,000. Finally, Allworth Financial LP boosted its position in shares of iShares Fallen Angels USD Bond ETF by 4.0% during the third quarter. Allworth Financial LP now owns 1,332,768 shares of the company’s stock valued at $37,024,000 after buying an additional 51,119 shares during the period.

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iShares Fallen Angels USD Bond ETF Stock Up 0.7%

Shares of FALN stock opened at $27.08 on Friday. iShares Fallen Angels USD Bond ETF has a 12-month low of $26.37 and a 12-month high of $27.79. The stock’s 50-day moving average price is $27.04 and its 200-day moving average price is $27.22.

iShares Fallen Angels USD Bond ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Thursday, June 4th. Stockholders of record on Monday, June 1st were issued a $0.1491 dividend. This represents a c) annualized dividend and a dividend yield of 6.6%. This is a positive change from iShares Fallen Angels USD Bond ETF’s previous monthly dividend of $0.14. The ex-dividend date of this dividend was Monday, June 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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