iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Sees Large Volume Increase – Still a Buy?

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) shares saw strong trading volume on Tuesday . 3,659,024 shares traded hands during trading, an increase of 294% from the previous session’s volume of 928,883 shares.The stock last traded at $26.50 and had previously closed at $26.52.

iShares Fallen Angels USD Bond ETF Trading Down 0.1%

The business has a 50-day moving average price of $26.31 and a 200-day moving average price of $26.74.

iShares Fallen Angels USD Bond ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Tuesday, May 6th. Investors of record on Thursday, May 1st were given a dividend of $0.1538 per share. This is a positive change from iShares Fallen Angels USD Bond ETF’s previous monthly dividend of $0.14. This represents a $1.85 annualized dividend and a yield of 6.97%. The ex-dividend date of this dividend was Thursday, May 1st.

Institutional Investors Weigh In On iShares Fallen Angels USD Bond ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brown Lisle Cummings Inc. acquired a new position in shares of iShares Fallen Angels USD Bond ETF during the first quarter valued at about $32,000. Fifth Third Bancorp grew its position in iShares Fallen Angels USD Bond ETF by 45.1% during the 1st quarter. Fifth Third Bancorp now owns 1,785 shares of the company’s stock worth $48,000 after purchasing an additional 555 shares during the last quarter. Glass Jacobson Investment Advisors llc increased its stake in iShares Fallen Angels USD Bond ETF by 62.9% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 1,855 shares of the company’s stock valued at $50,000 after purchasing an additional 716 shares in the last quarter. Strategic Investment Solutions Inc. IL increased its stake in iShares Fallen Angels USD Bond ETF by 26.8% during the 1st quarter. Strategic Investment Solutions Inc. IL now owns 1,904 shares of the company’s stock valued at $51,000 after purchasing an additional 403 shares in the last quarter. Finally, Olde Wealth Management LLC purchased a new position in shares of iShares Fallen Angels USD Bond ETF in the first quarter worth $53,000.

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.