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

Shares of iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) saw strong trading volume on Wednesday . 2,456,790 shares were traded 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 Trading Down 0.6%

The business’s 50 day simple moving average is $27.42 and its 200 day simple moving average is $27.45.

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 represents a c) dividend on an annualized basis and a dividend yield of 6.8%. This is an increase from iShares Fallen Angels USD Bond ETF’s previous monthly dividend of $0.15.

Hedge Funds Weigh In On iShares Fallen Angels USD Bond ETF

Several large investors have recently modified their holdings of FALN. Ashton Thomas Securities LLC bought a new position in iShares Fallen Angels USD Bond ETF during the 3rd quarter valued at about $2,169,000. Orion Porfolio Solutions LLC increased its holdings 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. Baker Avenue Asset Management LP lifted its stake in iShares Fallen Angels USD Bond ETF by 49.2% in the second quarter. Baker Avenue Asset Management LP now owns 323,024 shares of the company’s stock worth $8,767,000 after acquiring an additional 106,505 shares during the period. Transamerica Financial Advisors LLC bought a new position in shares of iShares Fallen Angels USD Bond ETF during the second quarter valued at approximately $5,096,000. Finally, Independence Financial Advisors LLC boosted its position in iShares Fallen Angels USD Bond ETF by 175.1% during the 3rd quarter. Independence Financial Advisors LLC now owns 451,249 shares of the company’s stock valued at $12,536,000 after acquiring an additional 287,244 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.