Short Interest in iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Drops By 83.1%

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) was the recipient of a large decrease in short interest in May. As of May 31st, there was short interest totalling 33,400 shares, a decrease of 83.1% from the May 15th total of 197,600 shares. Based on an average daily volume of 1,391,600 shares, the short-interest ratio is presently 0.0 days. Approximately 0.1% of the company’s stock are short sold.

Hedge Funds Weigh In On iShares Fallen Angels USD Bond ETF

Several large investors have recently modified their holdings of the stock. Brown Lisle Cummings Inc. bought a new position in iShares Fallen Angels USD Bond ETF in the first quarter worth about $32,000. Fifth Third Bancorp raised its holdings in shares of iShares Fallen Angels USD Bond ETF by 45.1% during 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 last quarter. Glass Jacobson Investment Advisors llc raised its holdings in shares of iShares Fallen Angels USD Bond ETF by 62.9% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 1,855 shares of the company’s stock valued at $50,000 after buying an additional 716 shares during the last quarter. Strategic Investment Solutions Inc. IL raised its holdings in iShares Fallen Angels USD Bond ETF by 26.8% during the first quarter. Strategic Investment Solutions Inc. IL now owns 1,904 shares of the company’s stock worth $51,000 after purchasing an additional 403 shares in the last quarter. Finally, Olde Wealth Management LLC bought a new stake in iShares Fallen Angels USD Bond ETF during the first quarter worth approximately $53,000.

iShares Fallen Angels USD Bond ETF Stock Performance

Shares of iShares Fallen Angels USD Bond ETF stock opened at $26.69 on Friday. The business has a 50-day moving average of $26.27 and a 200-day moving average of $26.68. iShares Fallen Angels USD Bond ETF has a 1-year low of $24.82 and a 1-year high of $27.43.

iShares Fallen Angels USD Bond ETF Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Thursday, June 5th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.1427 per share. The ex-dividend date was Monday, June 2nd. This represents a $1.71 annualized dividend and a dividend yield of 6.42%.

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.