Commonwealth Financial Services LLC Acquires 164,262 Shares of iShares Fallen Angels USD Bond ETF $FALN

Commonwealth Financial Services LLC bought a new position in shares of iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 164,262 shares of the company’s stock, valued at approximately $4,259,000. iShares Fallen Angels USD Bond ETF accounts for 0.8% of Commonwealth Financial Services LLC’s portfolio, making the stock its 27th largest position. Commonwealth Financial Services LLC owned about 0.27% of iShares Fallen Angels USD Bond ETF at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Bank of America Corp DE grew its stake in shares of iShares Fallen Angels USD Bond ETF by 3.5% in the 1st quarter. Bank of America Corp DE now owns 7,519,795 shares of the company’s stock worth $200,929,000 after buying an additional 252,501 shares during the last quarter. Novem Group lifted its stake in iShares Fallen Angels USD Bond ETF by 5.7% during the 3rd quarter. Novem Group now owns 726,067 shares of the company’s stock valued at $18,827,000 after acquiring an additional 39,022 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of iShares Fallen Angels USD Bond ETF by 5.4% in the second quarter. Envestnet Asset Management Inc. now owns 398,716 shares of the company’s stock worth $10,861,000 after acquiring an additional 20,319 shares during the period. Breakwater Capital Group lifted its position in iShares Fallen Angels USD Bond ETF by 7.3% during the second quarter. Breakwater Capital Group now owns 385,762 shares of the company’s stock valued at $10,508,000 after purchasing an additional 26,127 shares during the period. Finally, HF Advisory Group LLC raised its stake in iShares Fallen Angels USD Bond ETF by 9.5% during the 3rd quarter. HF Advisory Group LLC now owns 322,026 shares of the company’s stock valued at $8,350,000 after buying an additional 27,918 shares during the last quarter.

iShares Fallen Angels USD Bond ETF Stock Down 0.1%

iShares Fallen Angels USD Bond ETF stock traded down $0.04 during mid-day trading on Tuesday, reaching $25.57. 412,551 shares of the stock traded hands, compared to its average volume of 1,036,067. The business’s 50-day moving average is $26.48 and its 200-day moving average is $26.85. iShares Fallen Angels USD Bond ETF has a 12-month low of $25.55 and a 12-month high of $27.77.

iShares Fallen Angels USD Bond ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Tuesday, October 6th. Stockholders of record on Thursday, October 1st were paid a $0.1471 dividend. This represents a $1.77 dividend on an annualized basis and a dividend yield of 6.9%. This is a boost from iShares Fallen Angels USD Bond ETF’s previous monthly dividend of $0.1425. The ex-dividend date of this dividend was Thursday, October 1st.

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.