iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Sees Unusually-High Trading Volume – Should You Buy?

Shares of iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) saw strong trading volume on Wednesday. 2,313,999 shares were traded during mid-day trading, an increase of 120% from the average daily volume of 1,050,423 shares. The stock last traded at $25.9250 and had previously closed at $25.93.

iShares Fallen Angels USD Bond ETF Trading Up 0.0%

The firm’s fifty day simple moving average is $26.33 and its 200 day simple moving average is $26.94.

iShares Fallen Angels USD Bond ETF Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Tuesday, October 6th. Shareholders of record on Thursday, October 1st were paid a $0.1471 dividend. This represents a $1.77 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend was Thursday, October 1st. This is an increase from iShares Fallen Angels USD Bond ETF’s previous monthly dividend of $0.1425.

Institutional Trading of iShares Fallen Angels USD Bond ETF

Institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Grp LLC bought a new stake in shares of iShares Fallen Angels USD Bond ETF in the 1st quarter valued at about $26,000. RMG Wealth Management LLC purchased a new stake in shares of iShares Fallen Angels USD Bond ETF during the 1st quarter valued at $31,000. Root Financial Partners LLC purchased a new stake in shares of iShares Fallen Angels USD Bond ETF during the 3rd quarter valued at $32,000. Beacon Financial Strategies CORP acquired a new stake in shares of iShares Fallen Angels USD Bond ETF in the 2nd quarter worth $50,000. Finally, Y.D. More Investments Ltd acquired a new position in iShares Fallen Angels USD Bond ETF during the 1st quarter valued at about $53,000.

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.