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

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) saw a significant decrease in short interest in the month of February. As of February 15th, there was short interest totalling 464,700 shares, a decrease of 54.0% from the January 31st total of 1,010,000 shares. Based on an average daily trading volume, of 847,000 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Trading of iShares Fallen Angels USD Bond ETF

Institutional investors have recently modified their holdings of the company. Glass Jacobson Investment Advisors llc raised its position in iShares Fallen Angels USD Bond ETF by 62.9% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 1,855 shares of the company’s stock valued at $50,000 after buying an additional 716 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of iShares Fallen Angels USD Bond ETF in the third quarter valued at approximately $55,000. Orion Capital Management LLC acquired a new stake in shares of iShares Fallen Angels USD Bond ETF in the fourth quarter valued at approximately $74,000. Oak Grove Capital LLC bought a new stake in shares of iShares Fallen Angels USD Bond ETF in the fourth quarter worth $200,000. Finally, Cornerstone Wealth Management LLC acquired a new position in iShares Fallen Angels USD Bond ETF during the fourth quarter worth $204,000.

iShares Fallen Angels USD Bond ETF Stock Up 0.3 %

Shares of FALN stock traded up $0.09 during trading hours on Friday, hitting $27.14. 746,915 shares of the company were exchanged, compared to its average volume of 909,321. iShares Fallen Angels USD Bond ETF has a 52 week low of $25.90 and a 52 week high of $27.43. The business has a 50 day moving average of $26.92 and a two-hundred day moving average of $27.04.

iShares Fallen Angels USD Bond ETF Increases Dividend

The company also recently announced a dividend, which was paid on Thursday, February 6th. Shareholders of record on Monday, February 3rd were issued a dividend of $0.1433 per share. The ex-dividend date of this dividend was Monday, February 3rd. This is a boost from iShares Fallen Angels USD Bond ETF’s previous dividend of $0.14.

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.