Short Interest in iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Grows By 116.8%

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) was the target of a significant growth in short interest in April. As of April 15th, there was short interest totalling 471,200 shares, a growth of 116.8% from the March 31st total of 217,300 shares. Based on an average trading volume of 789,000 shares, the short-interest ratio is currently 0.6 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. US Financial Advisors LLC grew its holdings in iShares Fallen Angels USD Bond ETF by 0.9% during the third quarter. US Financial Advisors LLC now owns 74,294 shares of the company’s stock worth $1,842,000 after purchasing an additional 655 shares during the period. Brookstone Capital Management boosted its holdings in shares of iShares Fallen Angels USD Bond ETF by 3.7% during the 4th quarter. Brookstone Capital Management now owns 27,834 shares of the company’s stock worth $735,000 after buying an additional 995 shares during the period. Scotia Capital Inc. acquired a new position in iShares Fallen Angels USD Bond ETF in the 3rd quarter valued at about $217,000. Saxony Capital Management LLC bought a new stake in shares of iShares Fallen Angels USD Bond ETF in the fourth quarter valued at approximately $220,000. Finally, Manning & Napier Group LLC bought a new position in iShares Fallen Angels USD Bond ETF during the 4th quarter worth $1,992,000.

iShares Fallen Angels USD Bond ETF Stock Up 0.2 %

FALN stock traded up $0.06 during mid-day trading on Friday, reaching $26.23. The company had a trading volume of 525,150 shares, compared to its average volume of 779,859. iShares Fallen Angels USD Bond ETF has a 52 week low of $24.12 and a 52 week high of $26.92. The stock has a 50 day simple moving average of $26.51 and a two-hundred day simple moving average of $26.06.

iShares Fallen Angels USD Bond ETF Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, April 5th. Shareholders of record on Tuesday, April 2nd were given a dividend of $0.1692 per share. This represents a $2.03 annualized dividend and a yield of 7.74%. The ex-dividend date of this dividend was Monday, April 1st.

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.