iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Sees Large Volume Increase Following Dividend Announcement

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) shares saw an uptick in trading volume on Monday after the company announced a dividend. 547,631 shares changed hands during mid-day trading, a decline of 25% from the previous session’s volume of 727,563 shares.The stock last traded at $26.07 and had previously closed at $26.19.

The newly announced dividend which will be paid on Friday, July 5th. Stockholders of record on Monday, July 1st will be paid a $0.1379 dividend. This represents a $1.65 dividend on an annualized basis and a dividend yield of 6.34%. The ex-dividend date of this dividend is Monday, July 1st.

iShares Fallen Angels USD Bond ETF Price Performance

The company’s 50-day simple moving average is $26.38 and its 200-day simple moving average is $26.47.

Institutional Trading of iShares Fallen Angels USD Bond ETF

A number of hedge funds have recently modified their holdings of FALN. Private Trust Co. NA grew its stake in iShares Fallen Angels USD Bond ETF by 19.6% during the 4th quarter. Private Trust Co. NA now owns 3,290 shares of the company’s stock valued at $87,000 after acquiring an additional 540 shares in the last quarter. Avantax Advisory Services Inc. grew its position in iShares Fallen Angels USD Bond ETF by 6.2% during the first quarter. Avantax Advisory Services Inc. now owns 9,484 shares of the company’s stock valued at $255,000 after purchasing an additional 553 shares in the last quarter. Absolute Capital Management LLC increased its stake in iShares Fallen Angels USD Bond ETF by 9.1% in the 1st quarter. Absolute Capital Management LLC now owns 8,786 shares of the company’s stock valued at $236,000 after buying an additional 731 shares during the period. Capital Wealth Management LLC boosted its stake in shares of iShares Fallen Angels USD Bond ETF by 0.7% during the 4th quarter. Capital Wealth Management LLC now owns 141,199 shares of the company’s stock valued at $3,728,000 after buying an additional 943 shares during the period. Finally, US Financial Advisors LLC grew its holdings in shares of iShares Fallen Angels USD Bond ETF by 1.3% during the 4th quarter. US Financial Advisors LLC now owns 75,278 shares of the company’s stock valued at $1,987,000 after acquiring an additional 984 shares in the last quarter.

iShares Fallen Angels USD Bond ETF Company Profile

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.