Northwestern Mutual Wealth Management Co. Increases Position in iShares Fallen Angels USD Bond ETF $FALN

Northwestern Mutual Wealth Management Co. raised its position in iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) by 505.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 168,477 shares of the company’s stock after purchasing an additional 140,661 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in iShares Fallen Angels USD Bond ETF were worth $4,599,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FALN. JPMorgan Chase & Co. raised its position in iShares Fallen Angels USD Bond ETF by 2,741.1% in the third quarter. JPMorgan Chase & Co. now owns 1,304,419 shares of the company’s stock valued at $36,237,000 after purchasing an additional 1,258,507 shares during the period. Invesco Ltd. raised its position in iShares Fallen Angels USD Bond ETF by 722.5% in the third quarter. Invesco Ltd. now owns 1,057,850 shares of the company’s stock valued at $29,387,000 after purchasing an additional 929,241 shares during the period. Bank of America Corp DE raised its position in iShares Fallen Angels USD Bond ETF by 14.7% in the third quarter. Bank of America Corp DE now owns 6,877,280 shares of the company’s stock valued at $191,051,000 after purchasing an additional 883,753 shares during the period. State of Tennessee Department of Treasury raised its position in iShares Fallen Angels USD Bond ETF by 20.5% in the second quarter. State of Tennessee Department of Treasury now owns 3,428,800 shares of the company’s stock valued at $93,058,000 after purchasing an additional 582,591 shares during the period. Finally, Baker Avenue Asset Management LP raised its position in iShares Fallen Angels USD Bond ETF by 273.5% in the fourth quarter. Baker Avenue Asset Management LP now owns 729,905 shares of the company’s stock valued at $19,926,000 after purchasing an additional 534,470 shares during the period.

iShares Fallen Angels USD Bond ETF Price Performance

Shares of NASDAQ FALN opened at $26.97 on Thursday. iShares Fallen Angels USD Bond ETF has a 52-week low of $26.37 and a 52-week high of $27.79. The business’s 50 day moving average is $26.99 and its two-hundred day moving average is $27.23.

iShares Fallen Angels USD Bond ETF Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Monday, June 1st will be given a dividend of $0.1491 per share. This is an increase 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 is Monday, June 1st.

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.