iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Sees Strong Trading Volume – Time to Buy?

Shares of iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) saw strong trading volume on Monday . 9,914,946 shares were traded during mid-day trading, an increase of 1,028% from the previous session’s volume of 879,188 shares.The stock last traded at $25.80 and had previously closed at $25.69.

iShares Fallen Angels USD Bond ETF Price Performance

The company’s 50 day moving average is $26.66 and its 200 day moving average is $26.89.

iShares Fallen Angels USD Bond ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, April 4th. Stockholders of record on Tuesday, April 1st were issued a dividend of $0.1408 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This is a boost from iShares Fallen Angels USD Bond ETF’s previous monthly dividend of $0.14. This represents a $1.69 annualized dividend and a dividend yield of 6.53%.

Institutional Investors Weigh In On iShares Fallen Angels USD Bond ETF

Institutional investors have recently made changes to their positions in the stock. HighTower Advisors LLC raised its holdings in iShares Fallen Angels USD Bond ETF by 360.5% in the 3rd quarter. HighTower Advisors LLC now owns 38,861 shares of the company’s stock valued at $1,065,000 after acquiring an additional 30,422 shares in the last quarter. World Investment Advisors LLC increased its position in shares of iShares Fallen Angels USD Bond ETF by 40.4% in the third quarter. World Investment Advisors LLC now owns 82,422 shares of the company’s stock worth $2,253,000 after purchasing an additional 23,733 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in iShares Fallen Angels USD Bond ETF in the third quarter valued at about $55,000. JPMorgan Chase & Co. grew its stake in iShares Fallen Angels USD Bond ETF by 35.1% during the third quarter. JPMorgan Chase & Co. now owns 184,060 shares of the company’s stock worth $5,032,000 after buying an additional 47,773 shares in the last quarter. Finally, ORG Partners LLC increased its holdings in iShares Fallen Angels USD Bond ETF by 163.3% in the 4th quarter. ORG Partners LLC now owns 36,446 shares of the company’s stock valued at $973,000 after buying an additional 22,605 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.