iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Sees Large Growth in Short Interest

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) saw a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 1,730,000 shares, a growth of 275.0% from the October 31st total of 461,300 shares. Based on an average daily trading volume, of 729,700 shares, the days-to-cover ratio is presently 2.4 days.

iShares Fallen Angels USD Bond ETF Stock Performance

FALN traded up $0.11 during trading on Friday, hitting $27.32. The stock had a trading volume of 483,819 shares, compared to its average volume of 718,046. The company’s 50-day moving average price is $27.11 and its 200 day moving average price is $26.82. iShares Fallen Angels USD Bond ETF has a twelve month low of $25.70 and a twelve month high of $27.43.

iShares Fallen Angels USD Bond ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Friday, November 1st were paid a $0.1409 dividend. This is a boost from iShares Fallen Angels USD Bond ETF’s previous monthly dividend of $0.14. This represents a $1.69 annualized dividend and a yield of 6.19%. The ex-dividend date was Friday, November 1st.

Hedge Funds Weigh In On iShares Fallen Angels USD Bond ETF

Institutional investors have recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. grew its stake in shares of iShares Fallen Angels USD Bond ETF by 20.2% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 27,316 shares of the company’s stock worth $677,000 after purchasing an additional 4,597 shares during the period. Comerica Bank grew its stake in shares of iShares Fallen Angels USD Bond ETF by 4.4% during the 1st quarter. Comerica Bank now owns 33,285 shares of the company’s stock worth $894,000 after purchasing an additional 1,415 shares during the period. Continuum Wealth Advisors LLC grew its stake in shares of iShares Fallen Angels USD Bond ETF by 2.1% during the 1st quarter. Continuum Wealth Advisors LLC now owns 259,886 shares of the company’s stock worth $6,981,000 after purchasing an additional 5,389 shares during the period. Invst LLC grew its stake in shares of iShares Fallen Angels USD Bond ETF by 13.5% during the 1st quarter. Invst LLC now owns 16,831 shares of the company’s stock worth $448,000 after purchasing an additional 2,005 shares during the period. Finally, Cetera Investment Advisers grew its stake in shares of iShares Fallen Angels USD Bond ETF by 182.5% during the 1st quarter. Cetera Investment Advisers now owns 768,476 shares of the company’s stock worth $20,641,000 after purchasing an additional 496,455 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.