Short Interest in iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Grows By 275.0%

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) saw a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 1,730,000 shares, an increase of 275.0% from the October 31st total of 461,300 shares. Based on an average daily volume of 729,700 shares, the days-to-cover ratio is currently 2.4 days.

iShares Fallen Angels USD Bond ETF Trading Up 0.4 %

NASDAQ FALN traded up $0.10 during trading hours on Thursday, reaching $27.21. The company had a trading volume of 542,513 shares, compared to its average volume of 719,064. iShares Fallen Angels USD Bond ETF has a 1-year low of $25.57 and a 1-year high of $27.43. The stock has a 50-day moving average of $27.11 and a 200 day moving average of $26.81.

iShares Fallen Angels USD Bond ETF Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Friday, November 1st were issued a dividend of $0.1409 per share. The ex-dividend date was Friday, November 1st. This represents a $1.69 dividend on an annualized basis and a yield of 6.21%. This is a boost from iShares Fallen Angels USD Bond ETF’s previous monthly dividend of $0.14.

Institutional Trading of iShares Fallen Angels USD Bond ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FALN. Asset Dedication LLC acquired a new stake in iShares Fallen Angels USD Bond ETF during the second quarter worth approximately $34,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of iShares Fallen Angels USD Bond ETF during the second quarter worth approximately $49,000. Wilmington Savings Fund Society FSB purchased a new position in shares of iShares Fallen Angels USD Bond ETF during the third quarter worth approximately $55,000. Strategic Financial Concepts LLC grew its position in shares of iShares Fallen Angels USD Bond ETF by 385.1% during the second quarter. Strategic Financial Concepts LLC now owns 222,350 shares of the company’s stock worth $58,000 after acquiring an additional 176,515 shares during the last quarter. Finally, Bell Investment Advisors Inc purchased a new position in shares of iShares Fallen Angels USD Bond ETF during the second quarter worth approximately $87,000.

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.