Fifth Third Bancorp Boosts Stake in iShares Fallen Angels USD Bond ETF $FALN

Fifth Third Bancorp boosted its stake in shares of iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) by 4,899.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 61,490 shares of the company’s stock after purchasing an additional 60,260 shares during the period. Fifth Third Bancorp owned about 0.09% of iShares Fallen Angels USD Bond ETF worth $1,643,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of FALN. Invesco Ltd. grew its stake in shares of iShares Fallen Angels USD Bond ETF by 722.5% during the 3rd quarter. Invesco Ltd. now owns 1,057,850 shares of the company’s stock valued at $29,387,000 after acquiring an additional 929,241 shares during the period. Bank of America Corp DE increased its stake in shares of iShares Fallen Angels USD Bond ETF by 14.7% in the third quarter. Bank of America Corp DE now owns 6,877,280 shares of the company’s stock worth $191,051,000 after purchasing an additional 883,753 shares in the last quarter. LPL Financial LLC raised its position in shares of iShares Fallen Angels USD Bond ETF by 54.7% during the 4th quarter. LPL Financial LLC now owns 2,429,052 shares of the company’s stock valued at $66,313,000 after purchasing an additional 858,396 shares during the period. State of Tennessee Department of Treasury raised its position in shares of iShares Fallen Angels USD Bond ETF by 20.5% during the 2nd quarter. State of Tennessee Department of Treasury now owns 3,428,800 shares of the company’s stock valued at $93,058,000 after purchasing an additional 582,591 shares during the period. Finally, Baker Avenue Asset Management LP lifted its stake in shares of iShares Fallen Angels USD Bond ETF by 273.5% during the 4th quarter. Baker Avenue Asset Management LP now owns 729,905 shares of the company’s stock valued at $19,926,000 after buying an additional 534,470 shares in the last quarter.

iShares Fallen Angels USD Bond ETF Stock Performance

FALN stock opened at $26.86 on Friday. iShares Fallen Angels USD Bond ETF has a 1-year low of $26.37 and a 1-year high of $27.79. The business has a 50 day simple moving average of $27.07 and a two-hundred day simple moving average of $27.17.

iShares Fallen Angels USD Bond ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Wednesday, July 1st were issued a dividend of $0.141 per share. This represents a c) annualized dividend and a yield of 6.3%. The ex-dividend date was Wednesday, July 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.