Central Pacific Bank Trust Division Buys New Stake in iShares Fallen Angels USD Bond ETF (NASDAQ:FALN)

Central Pacific Bank Trust Division purchased a new position in shares of iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) during the first quarter, HoldingsChannel reports. The institutional investor purchased 73,410 shares of the company’s stock, valued at approximately $1,967,000.

A number of other large investors also recently made changes to their positions in FALN. First Hawaiian Bank acquired a new stake in shares of iShares Fallen Angels USD Bond ETF during the 1st quarter worth $1,891,000. Mascagni Wealth Management Inc. acquired a new stake in iShares Fallen Angels USD Bond ETF in the 4th quarter valued at $313,000. Wealth Enhancement Advisory Services LLC boosted its position in iShares Fallen Angels USD Bond ETF by 16.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 41,475 shares of the company’s stock valued at $1,108,000 after buying an additional 5,980 shares during the last quarter. Brooklyn FI LLC bought a new position in shares of iShares Fallen Angels USD Bond ETF during the fourth quarter worth about $3,192,000. Finally, Virtue Capital Management LLC lifted its position in shares of iShares Fallen Angels USD Bond ETF by 6.7% during the fourth quarter. Virtue Capital Management LLC now owns 74,942 shares of the company’s stock worth $2,002,000 after purchasing an additional 4,729 shares during the last quarter.

iShares Fallen Angels USD Bond ETF Stock Up 0.2%

Shares of FALN stock opened at $26.57 on Friday. The company’s 50-day simple moving average is $26.23 and its 200-day simple moving average is $26.71. 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 firm also recently announced a monthly dividend, which was paid on Tuesday, May 6th. Shareholders of record on Thursday, May 1st were issued a $0.1538 dividend. The ex-dividend date of this dividend was Thursday, May 1st. This represents a $1.85 dividend on an annualized basis and a yield of 6.95%. This is a boost from iShares Fallen Angels USD Bond ETF’s previous monthly dividend of $0.14.

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.