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

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) shares saw unusually-strong trading volume on Tuesday . Approximately 1,772,708 shares traded hands during trading, an increase of 150% from the previous session’s volume of 709,660 shares.The stock last traded at $26.66 and had previously closed at $26.67.

iShares Fallen Angels USD Bond ETF Stock Performance

The company’s 50-day moving average is $26.42 and its 200-day moving average is $26.48.

iShares Fallen Angels USD Bond ETF Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Friday, July 5th. Stockholders of record on Monday, July 1st were issued a dividend of $0.1379 per share. The ex-dividend date was Monday, July 1st. This represents a $1.65 dividend on an annualized basis and a dividend yield of 6.22%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. SouthState Corp purchased a new stake in iShares Fallen Angels USD Bond ETF in the fourth quarter valued at $30,000. Vermillion & White Wealth Management Group LLC purchased a new stake in iShares Fallen Angels USD Bond ETF in the 4th quarter valued at about $33,000. First Horizon Advisors Inc. raised its holdings in iShares Fallen Angels USD Bond ETF by 120.7% in the 4th quarter. First Horizon Advisors Inc. now owns 2,079 shares of the company’s stock valued at $55,000 after buying an additional 1,137 shares during the period. Private Trust Co. NA lifted its position in iShares Fallen Angels USD Bond ETF by 19.6% in the fourth quarter. Private Trust Co. NA now owns 3,290 shares of the company’s stock valued at $87,000 after buying an additional 540 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in iShares Fallen Angels USD Bond ETF by 143.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,323 shares of the company’s stock worth $88,000 after buying an additional 1,957 shares during the period.

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.