iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Sees Strong Trading Volume – Here’s What Happened

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) shares saw an uptick in trading volume on Wednesday . 2,456,790 shares changed hands during mid-day trading, an increase of 152% from the previous session’s volume of 976,314 shares.The stock last traded at $26.76 and had previously closed at $26.88.

iShares Fallen Angels USD Bond ETF Stock Down 0.6%

The firm’s 50-day moving average is $27.39 and its two-hundred day moving average is $27.44.

iShares Fallen Angels USD Bond ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Thursday, March 5th. Stockholders of record on Monday, March 2nd were given a dividend of $0.1506 per share. The ex-dividend date was Monday, March 2nd. This is an increase from iShares Fallen Angels USD Bond ETF’s previous monthly dividend of $0.15. This represents a c) dividend on an annualized basis and a dividend yield of 6.8%.

Hedge Funds Weigh In On iShares Fallen Angels USD Bond ETF

Several hedge funds have recently added to or reduced their stakes in FALN. Bank of America Corp DE raised its holdings in iShares Fallen Angels USD Bond ETF by 14.7% during the 3rd quarter. Bank of America Corp DE now owns 6,877,280 shares of the company’s stock worth $191,051,000 after purchasing an additional 883,753 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its position in iShares Fallen Angels USD Bond ETF by 5.2% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 3,657,064 shares of the company’s stock valued at $99,838,000 after purchasing an additional 180,505 shares during the period. State of Tennessee Department of Treasury boosted its stake in shares of iShares Fallen Angels USD Bond ETF by 20.5% in the 2nd quarter. State of Tennessee Department of Treasury now owns 3,428,800 shares of the company’s stock valued at $93,058,000 after purchasing an additional 582,591 shares during the last quarter. LPL Financial LLC boosted its stake in shares of iShares Fallen Angels USD Bond ETF by 54.7% in the 4th quarter. LPL Financial LLC now owns 2,429,052 shares of the company’s stock valued at $66,313,000 after purchasing an additional 858,396 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of iShares Fallen Angels USD Bond ETF by 33.4% during the 4th quarter. Invesco Ltd. now owns 1,411,465 shares of the company’s stock worth $38,533,000 after buying an additional 353,615 shares during the period.

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.