iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Hits New 12-Month High – Still a Buy?

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $27.72 and last traded at $27.67, with a volume of 3180833 shares trading hands. The stock had previously closed at $27.71.

iShares Fallen Angels USD Bond ETF Price Performance

The company has a 50 day simple moving average of $27.20 and a 200-day simple moving average of $26.75.

iShares Fallen Angels USD Bond ETF Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, September 5th. Shareholders of record on Tuesday, September 2nd were paid a $0.1424 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a c) annualized dividend and a dividend yield of 6.2%.

Institutional Trading of iShares Fallen Angels USD Bond ETF

Hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in shares of iShares Fallen Angels USD Bond ETF by 30.9% in the first quarter. Bank of New York Mellon Corp now owns 186,796 shares of the company’s stock valued at $5,004,000 after buying an additional 44,128 shares during the period. Fifth Third Bancorp raised its stake in shares of iShares Fallen Angels USD Bond ETF by 45.1% in the first quarter. Fifth Third Bancorp now owns 1,785 shares of the company’s stock valued at $48,000 after buying an additional 555 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of iShares Fallen Angels USD Bond ETF by 1.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 42,027 shares of the company’s stock valued at $1,126,000 after buying an additional 552 shares during the period. Spire Wealth Management raised its stake in shares of iShares Fallen Angels USD Bond ETF by 70.0% during the 1st quarter. Spire Wealth Management now owns 9,123 shares of the company’s stock valued at $244,000 after purchasing an additional 3,758 shares during the period. Finally, Janney Montgomery Scott LLC bought a new stake in shares of iShares Fallen Angels USD Bond ETF during the 1st quarter valued at $1,928,000.

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.