Short Interest in iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Increases By 1,917.5%

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) was the target of a significant growth in short interest in the month of June. As of June 30th, there was short interest totaling 722,804 shares, a growth of 1,917.5% from the June 15th total of 35,827 shares. Based on an average trading volume of 725,256 shares, the short-interest ratio is currently 1.0 days. Approximately 1.2% of the shares of the company are sold short.

Institutional Trading of iShares Fallen Angels USD Bond ETF

A number of institutional investors have recently bought and sold shares of FALN. Royal Bank of Canada grew its position in iShares Fallen Angels USD Bond ETF by 32.3% in the 1st quarter. Royal Bank of Canada now owns 301,573 shares of the company’s stock valued at $8,079,000 after acquiring an additional 73,579 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of iShares Fallen Angels USD Bond ETF by 13.3% in the first quarter. NewEdge Advisors LLC now owns 14,703 shares of the company’s stock worth $394,000 after purchasing an additional 1,728 shares during the last quarter. JPMorgan Chase & Co. increased its stake in iShares Fallen Angels USD Bond ETF by 2.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 45,912 shares of the company’s stock worth $1,246,000 after buying an additional 1,269 shares during the period. Qube Research & Technologies Ltd purchased a new position in iShares Fallen Angels USD Bond ETF in the 2nd quarter worth about $255,000. Finally, Diversify Wealth Management LLC lifted its holdings in iShares Fallen Angels USD Bond ETF by 3.0% during the 2nd quarter. Diversify Wealth Management LLC now owns 124,852 shares of the company’s stock valued at $3,382,000 after buying an additional 3,603 shares in the last quarter.

iShares Fallen Angels USD Bond ETF Trading Down 0.1%

FALN stock traded down $0.04 during midday trading on Friday, hitting $27.08. The company’s stock had a trading volume of 251,925 shares, compared to its average volume of 1,167,010. iShares Fallen Angels USD Bond ETF has a 12 month low of $26.37 and a 12 month high of $27.79. The company has a 50 day moving average of $27.07 and a two-hundred day moving average of $27.18.

iShares Fallen Angels USD Bond ETF Cuts Dividend

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

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.