iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Short Interest Up 254.4% in March

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) was the target of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 603,200 shares, a growth of 254.4% from the February 29th total of 170,200 shares. Based on an average daily volume of 758,000 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Investors Weigh In On iShares Fallen Angels USD Bond ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in FALN. Glass Jacobson Investment Advisors llc acquired a new stake in shares of iShares Fallen Angels USD Bond ETF during the 3rd quarter worth approximately $27,000. New Republic Capital LLC acquired a new stake in shares of iShares Fallen Angels USD Bond ETF during the 2nd quarter worth approximately $29,000. SouthState Corp acquired a new stake in shares of iShares Fallen Angels USD Bond ETF during the 4th quarter worth approximately $30,000. Howe & Rusling Inc. grew its stake in iShares Fallen Angels USD Bond ETF by 151.4% in the 1st quarter. Howe & Rusling Inc. now owns 1,282 shares of the company’s stock valued at $32,000 after acquiring an additional 772 shares during the period. Finally, Vermillion & White Wealth Management Group LLC acquired a new stake in iShares Fallen Angels USD Bond ETF in the 4th quarter valued at $33,000.

iShares Fallen Angels USD Bond ETF Stock Up 0.4 %

Shares of NASDAQ FALN opened at $26.88 on Thursday. iShares Fallen Angels USD Bond ETF has a 12 month low of $24.12 and a 12 month high of $26.89. The firm’s 50 day simple moving average is $26.59 and its 200-day simple moving average is $25.83.

iShares Fallen Angels USD Bond ETF Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Thursday, March 7th. Stockholders of record on Monday, March 4th were paid a dividend of $0.1345 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.61 dividend on an annualized basis and a dividend yield of 6.00%.

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.