iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Sees Significant Growth in Short Interest

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) saw 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. Currently, 0.8% of the company’s shares are sold short. Based on an average trading volume of 1,433,975 shares, the days-to-cover ratio is currently 0.4 days.

iShares Fallen Angels USD Bond ETF Stock Performance

Shares of NASDAQ:FALN opened at $26.97 on Wednesday. The business has a 50-day moving average of $27.02 and a two-hundred day moving average of $27.23. iShares Fallen Angels USD Bond ETF has a 12 month low of $26.37 and a 12 month high of $27.79.

iShares Fallen Angels USD Bond ETF Increases Dividend

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

Institutional Investors Weigh In On iShares Fallen Angels USD Bond ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Grp LLC acquired a new stake in iShares Fallen Angels USD Bond ETF during the first quarter worth about $26,000. Global Retirement Partners LLC grew its stake in shares of iShares Fallen Angels USD Bond ETF by 73.2% in the fourth quarter. Global Retirement Partners LLC now owns 1,013 shares of the company’s stock valued at $28,000 after buying an additional 428 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in shares of iShares Fallen Angels USD Bond ETF in the fourth quarter valued at about $30,000. RMG Wealth Management LLC acquired a new stake in shares of iShares Fallen Angels USD Bond ETF in the first quarter valued at about $31,000. Finally, CoreCap Advisors LLC grew its stake in shares of iShares Fallen Angels USD Bond ETF by 46.4% in the fourth quarter. CoreCap Advisors LLC now owns 1,726 shares of the company’s stock valued at $47,000 after buying an additional 547 shares in the last quarter.

About iShares Fallen Angels USD Bond ETF

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.