Novem Group Invests $13.11 Million in iShares Fallen Angels USD Bond ETF (NASDAQ:FALN)

Novem Group bought a new stake in iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 490,710 shares of the company’s stock, valued at approximately $13,107,000. iShares Fallen Angels USD Bond ETF accounts for about 1.9% of Novem Group’s investment portfolio, making the stock its 10th biggest holding.

Other large investors have also added to or reduced their stakes in the company. Glass Jacobson Investment Advisors llc increased its holdings in iShares Fallen Angels USD Bond ETF by 62.9% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 1,855 shares of the company’s stock worth $50,000 after purchasing an additional 716 shares during the last quarter. Oak Grove Capital LLC acquired a new stake in shares of iShares Fallen Angels USD Bond ETF during the fourth quarter worth approximately $200,000. Cornerstone Wealth Management LLC acquired a new stake in shares of iShares Fallen Angels USD Bond ETF during the fourth quarter worth approximately $204,000. Wrapmanager Inc. bought a new stake in shares of iShares Fallen Angels USD Bond ETF in the fourth quarter worth $227,000. Finally, Copperleaf Capital LLC acquired a new stake in iShares Fallen Angels USD Bond ETF in the fourth quarter valued at $229,000.

iShares Fallen Angels USD Bond ETF Trading Down 0.1%

NASDAQ FALN opened at $26.49 on Wednesday. iShares Fallen Angels USD Bond ETF has a 12 month low of $24.82 and a 12 month high of $27.43. The company’s fifty day moving average price is $26.30 and its two-hundred day moving average price is $26.74.

iShares Fallen Angels USD Bond ETF Increases Dividend

The business also recently announced a monthly dividend, which was paid on Tuesday, May 6th. Stockholders of record on Thursday, May 1st were paid a $0.1538 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 6.97%. The ex-dividend date of this dividend was Thursday, May 1st. This is a positive change from iShares Fallen Angels USD Bond ETF’s previous monthly dividend of $0.14.

iShares Fallen Angels USD Bond ETF 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.