iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Hits New 1-Year Low – Here’s What Happened

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN)’s share price reached a new 52-week low on Tuesday. The company traded as low as $26.05 and last traded at $26.08, with a volume of 1022565 shares trading hands. The stock had previously closed at $26.21.

iShares Fallen Angels USD Bond ETF Trading Down 0.3%

The stock has a fifty day simple moving average of $26.77 and a 200-day simple moving average of $26.93.

iShares Fallen Angels USD Bond ETF Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, September 4th. Stockholders of record on Tuesday, September 1st were given a dividend of $0.1425 per share. This is a drop from iShares Fallen Angels USD Bond ETF’s previous monthly dividend of $0.1481. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $1.71 annualized dividend and a dividend yield of 6.6%.

Hedge Funds Weigh In On iShares Fallen Angels USD Bond ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC raised its holdings in iShares Fallen Angels USD Bond ETF by 38.4% during the second quarter. NewEdge Advisors LLC now owns 73,149 shares of the company’s stock worth $1,993,000 after purchasing an additional 20,311 shares in the last quarter. Integrity Wealth Advisors Inc. boosted its holdings in shares of iShares Fallen Angels USD Bond ETF by 613.0% in the 4th quarter. Integrity Wealth Advisors Inc. now owns 54,510 shares of the company’s stock valued at $1,503,000 after buying an additional 46,865 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of iShares Fallen Angels USD Bond ETF by 505.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 168,477 shares of the company’s stock valued at $4,599,000 after buying an additional 140,661 shares during the last quarter. Napier Financial LLC purchased a new position in shares of iShares Fallen Angels USD Bond ETF in the 4th quarter valued at $2,399,000. Finally, Gateway Wealth Partners LLC acquired a new stake in iShares Fallen Angels USD Bond ETF during the 1st quarter worth $567,000.

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.