iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Reaches New 12-Month Low – What’s Next?

Shares of iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) reached a new 52-week low during trading on Monday. The stock traded as low as $25.61 and last traded at $25.6150, with a volume of 573,015 shares traded. The stock had previously closed at $25.68.

iShares Fallen Angels USD Bond ETF Trading Up 0.1%

The stock’s 50-day moving average is $26.46 and its 200 day moving average is $26.84.

iShares Fallen Angels USD Bond ETF Increases Dividend

The business also recently announced a monthly dividend, which was paid on Tuesday, October 6th. Shareholders of record on Thursday, October 1st were given a $0.1471 dividend. This represents a $1.77 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date was Thursday, October 1st. This is a positive change from iShares Fallen Angels USD Bond ETF’s previous monthly dividend of $0.1425.

Institutional Investors Weigh In On iShares Fallen Angels USD Bond ETF

A number of institutional investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its stake in iShares Fallen Angels USD Bond ETF by 3.5% in the first quarter. Bank of America Corp DE now owns 7,519,795 shares of the company’s stock valued at $200,929,000 after acquiring an additional 252,501 shares during the last quarter. Novem Group grew its position in iShares Fallen Angels USD Bond ETF by 5.7% in the third quarter. Novem Group now owns 726,067 shares of the company’s stock worth $18,827,000 after acquiring an additional 39,022 shares in the last quarter. Envestnet Asset Management Inc. grew its position in iShares Fallen Angels USD Bond ETF by 5.4% in the second quarter. Envestnet Asset Management Inc. now owns 398,716 shares of the company’s stock worth $10,861,000 after acquiring an additional 20,319 shares in the last quarter. Breakwater Capital Group grew its position in iShares Fallen Angels USD Bond ETF by 7.3% in the second quarter. Breakwater Capital Group now owns 385,762 shares of the company’s stock worth $10,508,000 after acquiring an additional 26,127 shares in the last quarter. Finally, HF Advisory Group LLC grew its position in iShares Fallen Angels USD Bond ETF by 9.5% in the third quarter. HF Advisory Group LLC now owns 322,026 shares of the company’s stock worth $8,350,000 after acquiring an additional 27,918 shares in the last quarter.

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.