Short Interest in iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Rises By 1,917.5%

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) was the target of a large increase in short interest in June. As of June 30th, there was short interest totaling 722,804 shares, an increase of 1,917.5% from the June 15th total of 35,827 shares. Based on an average trading volume of 725,256 shares, the days-to-cover ratio is presently 1.0 days. Currently, 1.2% of the company’s stock are short sold.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital Wealth Management LLC lifted its stake in iShares Fallen Angels USD Bond ETF by 9.3% in the second quarter. Capital Wealth Management LLC now owns 266,540 shares of the company’s stock valued at $7,261,000 after purchasing an additional 22,743 shares during the last quarter. HF Advisory Group LLC raised its position in shares of iShares Fallen Angels USD Bond ETF by 9.4% in the second quarter. HF Advisory Group LLC now owns 294,108 shares of the company’s stock valued at $8,012,000 after purchasing an additional 25,308 shares during the period. Client First Investment Management LLC purchased a new stake in shares of iShares Fallen Angels USD Bond ETF during the 2nd quarter valued at approximately $3,790,000. Breakwater Capital Group lifted its stake in shares of iShares Fallen Angels USD Bond ETF by 7.3% during the 2nd quarter. Breakwater Capital Group now owns 385,762 shares of the company’s stock valued at $10,508,000 after buying an additional 26,127 shares in the last quarter. Finally, Beacon Financial Strategies CORP bought a new position in iShares Fallen Angels USD Bond ETF in the 2nd quarter worth approximately $50,000.

iShares Fallen Angels USD Bond ETF Stock Performance

FALN traded down $0.04 during midday trading on Friday, reaching $27.08. 251,925 shares of the company were exchanged, compared to its average volume of 1,167,010. The company’s fifty day moving average price is $27.07 and its 200 day moving average price is $27.18. iShares Fallen Angels USD Bond ETF has a one year low of $26.37 and a one year high of $27.79.

iShares Fallen Angels USD Bond ETF Cuts Dividend

The firm also recently disclosed a monthly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Wednesday, July 1st were paid a $0.141 dividend. This represents a c) dividend on an annualized basis and a yield of 6.3%. The ex-dividend date was Wednesday, July 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.