iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Sees Unusually-High Trading Volume – Here’s Why

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) shares saw unusually-strong trading volume on Wednesday . Approximately 2,167,433 shares were traded during mid-day trading, an increase of 94% from the previous session’s volume of 1,119,771 shares.The stock last traded at $26.77 and had previously closed at $26.62.

iShares Fallen Angels USD Bond ETF Stock Performance

The company has a 50 day simple moving average of $27.33 and a 200 day simple moving average of $27.43.

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 issued a dividend of $0.1506 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.8%. 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.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Royal Bank of Canada grew its stake 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 worth $8,079,000 after buying an additional 73,579 shares during the period. NewEdge Advisors LLC raised its stake in shares of iShares Fallen Angels USD Bond ETF by 13.3% in the 1st quarter. NewEdge Advisors LLC now owns 14,703 shares of the company’s stock valued at $394,000 after acquiring an additional 1,728 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in shares of iShares Fallen Angels USD Bond ETF by 303.8% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 54,798 shares of the company’s stock valued at $1,487,000 after acquiring an additional 41,228 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of iShares Fallen Angels USD Bond ETF by 2.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 45,912 shares of the company’s stock valued at $1,246,000 after acquiring an additional 1,269 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in iShares Fallen Angels USD Bond ETF during the 2nd quarter worth $4,450,000.

iShares Fallen Angels USD Bond ETF Company Profile

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.