iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Position Lessened by Royal Bank of Canada

Royal Bank of Canada trimmed its position in shares of iShares Fallen Angels USD Bond ETF (NASDAQ:FALN – Get Rating) by 8.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 396,890 shares of the company’s stock after selling 36,142 shares during the period. Royal Bank of Canada owned about 0.56% of iShares Fallen Angels USD Bond ETF worth $9,486,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Absolute Capital Management LLC bought a new position in iShares Fallen Angels USD Bond ETF during the third quarter valued at about $77,000. Capital Analysts LLC bought a new position in iShares Fallen Angels USD Bond ETF during the second quarter valued at about $107,000. CFS Investment Advisory Services LLC grew its position in shares of iShares Fallen Angels USD Bond ETF by 1,407.2% in the third quarter. CFS Investment Advisory Services LLC now owns 3,409,693 shares of the company’s stock valued at $143,000 after purchasing an additional 3,183,471 shares during the last quarter. BNP Paribas Arbitrage SA acquired a new stake in shares of iShares Fallen Angels USD Bond ETF in the first quarter valued at about $161,000. Finally, Tennessee Valley Asset Management Partners acquired a new stake in shares of iShares Fallen Angels USD Bond ETF in the third quarter valued at about $204,000.

iShares Fallen Angels USD Bond ETF Stock Down 0.7 %

Shares of NASDAQ:FALN opened at $24.66 on Friday. The stock’s 50-day moving average is $25.20 and its 200-day moving average is $24.78. iShares Fallen Angels USD Bond ETF has a 52-week low of $23.41 and a 52-week high of $27.86.

iShares Fallen Angels USD Bond ETF Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Tuesday, March 7th. Stockholders of record on Thursday, March 2nd were given a $0.111 dividend. This represents a $1.33 annualized dividend and a dividend yield of 5.40%. The ex-dividend date was Wednesday, March 1st.

iShares Fallen Angels USD Bond ETF Company Profile

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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.