iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Sees Large Growth in Short Interest

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) was the target of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 1,730,000 shares, an increase of 275.0% from the October 31st total of 461,300 shares. Based on an average daily volume of 729,700 shares, the days-to-cover ratio is presently 2.4 days.

iShares Fallen Angels USD Bond ETF Trading Up 0.4 %

Shares of NASDAQ FALN traded up $0.11 during midday trading on Friday, hitting $27.32. The company’s stock had a trading volume of 483,819 shares, compared to its average volume of 718,046. The business’s fifty day simple moving average is $27.11 and its two-hundred day simple moving average is $26.82. iShares Fallen Angels USD Bond ETF has a 1 year low of $25.70 and a 1 year high of $27.43.

iShares Fallen Angels USD Bond ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Wednesday, November 6th. Investors of record on Friday, November 1st were issued a $0.1409 dividend. This is a boost from iShares Fallen Angels USD Bond ETF’s previous monthly dividend of $0.14. The ex-dividend date was Friday, November 1st. This represents a $1.69 annualized dividend and a yield of 6.19%.

Institutional Trading of iShares Fallen Angels USD Bond ETF

Several hedge funds have recently added to or reduced their stakes in FALN. Mather Group LLC. raised its holdings in iShares Fallen Angels USD Bond ETF by 27.0% in the third quarter. Mather Group LLC. now owns 8,991,241 shares of the company’s stock valued at $245,821,000 after acquiring an additional 1,913,910 shares in the last quarter. Cetera Investment Advisers raised its holdings in iShares Fallen Angels USD Bond ETF by 182.5% in the first quarter. Cetera Investment Advisers now owns 768,476 shares of the company’s stock valued at $20,641,000 after acquiring an additional 496,455 shares in the last quarter. Angeles Investment Advisors LLC raised its holdings in iShares Fallen Angels USD Bond ETF by 39.8% during the third quarter. Angeles Investment Advisors LLC now owns 1,294,400 shares of the company’s stock worth $35,389,000 after purchasing an additional 368,400 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in iShares Fallen Angels USD Bond ETF by 52.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 831,984 shares of the company’s stock worth $22,746,000 after purchasing an additional 287,900 shares in the last quarter. Finally, Toews Corp ADV acquired a new stake in iShares Fallen Angels USD Bond ETF during the second quarter worth approximately $6,927,000.

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.