Financial Advocates Investment Management Trims Stake in iShares Fallen Angels USD Bond ETF (NASDAQ:FALN)

Financial Advocates Investment Management cut its position in shares of iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) by 16.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,307 shares of the company’s stock after selling 2,578 shares during the period. Financial Advocates Investment Management’s holdings in iShares Fallen Angels USD Bond ETF were worth $349,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in FALN. SouthState Corp bought a new stake in iShares Fallen Angels USD Bond ETF during the 4th quarter valued at $30,000. Vermillion & White Wealth Management Group LLC bought a new stake in iShares Fallen Angels USD Bond ETF during the fourth quarter valued at about $33,000. First Horizon Advisors Inc. grew its stake in iShares Fallen Angels USD Bond ETF by 120.7% in the fourth quarter. First Horizon Advisors Inc. now owns 2,079 shares of the company’s stock valued at $55,000 after purchasing an additional 1,137 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in iShares Fallen Angels USD Bond ETF by 143.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,323 shares of the company’s stock worth $88,000 after purchasing an additional 1,957 shares in the last quarter. Finally, Consultiva Wealth Management CORP. purchased a new stake in shares of iShares Fallen Angels USD Bond ETF during the first quarter valued at about $106,000.

iShares Fallen Angels USD Bond ETF Stock Up 0.1 %

Shares of iShares Fallen Angels USD Bond ETF stock opened at $27.13 on Friday. The firm’s 50 day moving average price is $26.63 and its 200-day moving average price is $26.52. iShares Fallen Angels USD Bond ETF has a 52-week low of $24.12 and a 52-week high of $27.23.

iShares Fallen Angels USD Bond ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Thursday, August 1st were paid a $0.1385 dividend. This represents a $1.66 annualized dividend and a yield of 6.13%. This is an increase from iShares Fallen Angels USD Bond ETF’s previous monthly dividend of $0.14. The ex-dividend date of this dividend was Thursday, August 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.