State of Tennessee Department of Treasury Acquires Shares of 583,680 iShares Fallen Angels USD Bond ETF (NASDAQ:FALN)

State of Tennessee Department of Treasury bought a new position in iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 583,680 shares of the company’s stock, valued at approximately $15,590,000. State of Tennessee Department of Treasury owned about 0.80% of iShares Fallen Angels USD Bond ETF at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in FALN. Nomura Asset Management Co. Ltd. grew its stake in shares of iShares Fallen Angels USD Bond ETF by 70.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,421,084 shares of the company’s stock valued at $37,957,000 after buying an additional 589,100 shares during the last quarter. Mather Group LLC. increased its stake in iShares Fallen Angels USD Bond ETF by 6.4% in the fourth quarter. Mather Group LLC. now owns 9,566,735 shares of the company’s stock worth $255,528,000 after purchasing an additional 575,494 shares during the period. Stratos Wealth Partners LTD. purchased a new stake in shares of iShares Fallen Angels USD Bond ETF during the fourth quarter valued at $6,151,000. Strategic Financial Concepts LLC purchased a new position in iShares Fallen Angels USD Bond ETF in the 4th quarter worth about $5,839,000. Finally, Scarborough Advisors LLC bought a new stake in iShares Fallen Angels USD Bond ETF during the 4th quarter valued at about $5,393,000.

iShares Fallen Angels USD Bond ETF Stock Performance

Shares of FALN stock opened at $25.86 on Wednesday. The company’s 50-day simple moving average is $26.56 and its two-hundred day simple moving average is $26.84. iShares Fallen Angels USD Bond ETF has a one year low of $24.82 and a one year high of $27.43.

iShares Fallen Angels USD Bond ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, April 4th. Investors of record on Tuesday, April 1st were paid a $0.1408 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $1.69 annualized dividend and a yield of 6.53%. This is a boost 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.