iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Short Interest Down 84.1% in February

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) was the target of a large drop in short interest in February. As of February 13th, there was short interest totaling 184,101 shares, a drop of 84.1% from the January 29th total of 1,154,673 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily volume of 908,730 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily volume of 908,730 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.3% of the company’s stock are short sold.

iShares Fallen Angels USD Bond ETF Trading Up 0.1%

Shares of NASDAQ FALN opened at $27.62 on Thursday. The firm’s 50 day moving average price is $27.48 and its 200-day moving average price is $27.46. iShares Fallen Angels USD Bond ETF has a 52-week low of $24.82 and a 52-week high of $27.79.

iShares Fallen Angels USD Bond ETF Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Thursday, February 5th. Investors of record on Monday, February 2nd were given a $0.1473 dividend. This is a boost from iShares Fallen Angels USD Bond ETF’s previous monthly dividend of $0.15. The ex-dividend date of this dividend was Monday, February 2nd. This represents a c) annualized dividend and a yield of 6.4%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FALN. Bank of America Corp DE lifted its holdings in shares of iShares Fallen Angels USD Bond ETF by 14.7% during the third quarter. Bank of America Corp DE now owns 6,877,280 shares of the company’s stock valued at $191,051,000 after purchasing an additional 883,753 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in iShares Fallen Angels USD Bond ETF by 5.2% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 3,657,064 shares of the company’s stock valued at $99,838,000 after acquiring an additional 180,505 shares during the period. State of Tennessee Department of Treasury boosted its holdings 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 acquiring an additional 582,591 shares during the last quarter. LPL Financial LLC grew its stake in shares of iShares Fallen Angels USD Bond ETF by 54.7% in the fourth quarter. LPL Financial LLC now owns 2,429,052 shares of the company’s stock worth $66,313,000 after acquiring an additional 858,396 shares during the period. Finally, Invesco Ltd. grew its stake in shares of iShares Fallen Angels USD Bond ETF by 33.4% in the fourth quarter. Invesco Ltd. now owns 1,411,465 shares of the company’s stock worth $38,533,000 after acquiring an additional 353,615 shares during the period.

iShares Fallen Angels USD Bond ETF Company Profile

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.