Sovran Advisors LLC Sells 47,575 Shares of iShares Fallen Angels USD Bond ETF $FALN

Sovran Advisors LLC lessened its holdings in shares of iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) by 73.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,767 shares of the company’s stock after selling 47,575 shares during the period. Sovran Advisors LLC’s holdings in iShares Fallen Angels USD Bond ETF were worth $455,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of FALN. Simplicity Wealth LLC increased its holdings in iShares Fallen Angels USD Bond ETF by 28.4% in the first quarter. Simplicity Wealth LLC now owns 24,280 shares of the company’s stock valued at $649,000 after purchasing an additional 5,367 shares during the period. Petix & Botte Co increased its stake in shares of iShares Fallen Angels USD Bond ETF by 11.2% in the first quarter. Petix & Botte Co now owns 246,470 shares of the company’s stock valued at $6,586,000 after buying an additional 24,802 shares during the period. Manning & Napier Advisors LLC increased its stake in shares of iShares Fallen Angels USD Bond ETF by 2.5% in the first quarter. Manning & Napier Advisors LLC now owns 101,560 shares of the company’s stock valued at $2,714,000 after buying an additional 2,505 shares during the period. ATX Financial Planning LLC bought a new position in shares of iShares Fallen Angels USD Bond ETF during the first quarter worth about $2,057,000. Finally, Kestra Advisory Services LLC raised its position in shares of iShares Fallen Angels USD Bond ETF by 9.5% during the first quarter. Kestra Advisory Services LLC now owns 179,502 shares of the company’s stock worth $4,796,000 after acquiring an additional 15,543 shares during the last quarter.

iShares Fallen Angels USD Bond ETF Stock Down 0.3%

iShares Fallen Angels USD Bond ETF stock opened at $27.00 on Tuesday. The stock’s 50 day moving average is $27.06 and its 200 day moving average is $27.18. iShares Fallen Angels USD Bond ETF has a one year low of $26.37 and a one year high of $27.79.

iShares Fallen Angels USD Bond ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Wednesday, July 1st were issued a dividend of $0.141 per share. The ex-dividend date was Wednesday, July 1st. This represents a c) annualized dividend and a yield of 6.3%.

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.