iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Hits New 12-Month High – Still a Buy?

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) shares hit a new 52-week high on Thursday . The stock traded as high as $27.49 and last traded at $27.47, with a volume of 485382 shares traded. The stock had previously closed at $27.42.

iShares Fallen Angels USD Bond ETF Stock Performance

The firm has a 50-day simple moving average of $27.12 and a two-hundred day simple moving average of $26.73.

iShares Fallen Angels USD Bond ETF Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Friday, September 5th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.1424 per share. This represents a c) annualized dividend and a yield of 6.2%. The ex-dividend date of this dividend was Tuesday, September 2nd.

Institutional Investors Weigh In On iShares Fallen Angels USD Bond ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Orion Porfolio Solutions LLC grew its position in iShares Fallen Angels USD Bond ETF by 102.6% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 65,320 shares of the company’s stock worth $1,773,000 after purchasing an additional 33,082 shares during the period. Thrivent Financial for Lutherans acquired a new stake in iShares Fallen Angels USD Bond ETF during the 2nd quarter worth about $7,592,000. B. Riley Wealth Advisors Inc. acquired a new stake in iShares Fallen Angels USD Bond ETF during the 2nd quarter worth about $335,000. Marex Group plc acquired a new stake in iShares Fallen Angels USD Bond ETF during the 2nd quarter worth about $1,768,000. Finally, Hershey Financial Advisers LLC acquired a new stake in iShares Fallen Angels USD Bond ETF during the 2nd quarter worth about $3,752,000.

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.