Short Interest in iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Declines By 93.6%

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) was the recipient of a significant drop in short interest in the month of June. As of June 15th, there was short interest totaling 35,827 shares, a drop of 93.6% from the May 31st total of 555,816 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average daily volume of 1,338,757 shares, the short-interest ratio is presently 0.0 days.

Institutional Trading of iShares Fallen Angels USD Bond ETF

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Root Financial Partners LLC raised its holdings in shares of iShares Fallen Angels USD Bond ETF by 6.1% during the first quarter. Root Financial Partners LLC now owns 6,477 shares of the company’s stock worth $173,000 after acquiring an additional 375 shares during the period. L.K. Benson & Company P.C. raised its stake in iShares Fallen Angels USD Bond ETF by 1.9% in the 4th quarter. L.K. Benson & Company P.C. now owns 20,493 shares of the company’s stock valued at $559,000 after acquiring an additional 390 shares during the period. Global Retirement Partners LLC lifted its holdings in iShares Fallen Angels USD Bond ETF by 73.2% during the 4th quarter. Global Retirement Partners LLC now owns 1,013 shares of the company’s stock valued at $28,000 after purchasing an additional 428 shares during the last quarter. Exchange Bank lifted its holdings in iShares Fallen Angels USD Bond ETF by 1.8% during the 4th quarter. Exchange Bank now owns 26,854 shares of the company’s stock valued at $733,000 after purchasing an additional 464 shares during the last quarter. Finally, Intergy Private Wealth LLC lifted its stake in shares of iShares Fallen Angels USD Bond ETF by 5.1% during the 1st quarter. Intergy Private Wealth LLC now owns 9,685 shares of the company’s stock worth $259,000 after buying an additional 468 shares during the last quarter.

iShares Fallen Angels USD Bond ETF Price Performance

Shares of iShares Fallen Angels USD Bond ETF stock traded down $0.03 during midday trading on Friday, hitting $27.19. 1,083,778 shares of the company were exchanged, compared to its average volume of 1,196,841. The firm has a 50 day simple moving average of $27.08 and a 200-day simple moving average of $27.20. iShares Fallen Angels USD Bond ETF has a 52 week low of $26.37 and a 52 week high of $27.79.

iShares Fallen Angels USD Bond ETF Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Thursday, June 4th. Investors of record on Monday, June 1st were issued a $0.1491 dividend. This is a positive change from iShares Fallen Angels USD Bond ETF’s previous monthly dividend of $0.14. This represents a c) dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date of this dividend was Monday, June 1st.

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.