iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Sees Significant Growth in Short Interest

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) was the recipient of a significant growth in short interest in the month of May. As of May 29th, there was short interest totaling 555,816 shares, a growth of 840.1% from the May 14th total of 59,124 shares. Based on an average daily trading volume, of 1,433,975 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.8% of the company’s shares are short sold.

Hedge Funds Weigh In On iShares Fallen Angels USD Bond ETF

Several large investors have recently added to or reduced their stakes in FALN. Royal Bank of Canada lifted its position in iShares Fallen Angels USD Bond ETF by 32.3% during the first quarter. Royal Bank of Canada now owns 301,573 shares of the company’s stock worth $8,079,000 after buying an additional 73,579 shares during the period. NewEdge Advisors LLC increased its stake in iShares Fallen Angels USD Bond ETF by 13.3% during the first quarter. NewEdge Advisors LLC now owns 14,703 shares of the company’s stock worth $394,000 after acquiring an additional 1,728 shares during the last quarter. JPMorgan Chase & Co. increased its stake in iShares Fallen Angels USD Bond ETF by 2.8% during the second quarter. JPMorgan Chase & Co. now owns 45,912 shares of the company’s stock worth $1,246,000 after acquiring an additional 1,269 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in iShares Fallen Angels USD Bond ETF during the second quarter worth about $255,000. Finally, Diversify Wealth Management LLC increased its stake in iShares Fallen Angels USD Bond ETF by 3.0% during the second quarter. Diversify Wealth Management LLC now owns 124,852 shares of the company’s stock worth $3,382,000 after acquiring an additional 3,603 shares during the last quarter.

iShares Fallen Angels USD Bond ETF Trading Up 0.2%

NASDAQ FALN opened at $26.97 on Wednesday. The business’s 50-day moving average price is $27.02 and its 200 day moving average price is $27.23. iShares Fallen Angels USD Bond ETF has a twelve month low of $26.37 and a twelve month high of $27.79.

iShares Fallen Angels USD Bond ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Thursday, June 4th. Investors of record on Monday, June 1st were given a dividend of $0.1491 per share. This represents a c) annualized dividend and a yield of 6.6%. This is a boost from iShares Fallen Angels USD Bond ETF’s previous monthly dividend of $0.14. The ex-dividend date was Monday, June 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.