Municipal Employees Retirement System of Michigan Makes New $94.35 Million Investment in iShares Fallen Angels USD Bond ETF $FALN

Municipal Employees Retirement System of Michigan bought a new position in shares of iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,476,559 shares of the company’s stock, valued at approximately $94,354,000. iShares Fallen Angels USD Bond ETF accounts for 1.1% of Municipal Employees Retirement System of Michigan’s portfolio, making the stock its 18th largest holding. Municipal Employees Retirement System of Michigan owned 0.05% of iShares Fallen Angels USD Bond ETF at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Winebrenner Capital Management LLC grew its holdings in shares of iShares Fallen Angels USD Bond ETF by 5.7% in the second quarter. Winebrenner Capital Management LLC now owns 11,148 shares of the company’s stock valued at $303,000 after purchasing an additional 600 shares in the last quarter. Wealthfront Advisers LLC lifted its position in shares of iShares Fallen Angels USD Bond ETF by 25.1% during the second quarter. Wealthfront Advisers LLC now owns 31,119 shares of the company’s stock worth $845,000 after purchasing an additional 6,251 shares during the last quarter. Orion Capital Management LLC lifted its position in shares of iShares Fallen Angels USD Bond ETF by 158.7% during the second quarter. Orion Capital Management LLC now owns 5,000 shares of the company’s stock worth $136,000 after purchasing an additional 3,067 shares during the last quarter. Forte Asset Management LLC lifted its position in shares of iShares Fallen Angels USD Bond ETF by 0.6% during the second quarter. Forte Asset Management LLC now owns 78,481 shares of the company’s stock worth $2,130,000 after purchasing an additional 481 shares during the last quarter. Finally, Insight Wealth Partners LLC raised its holdings in shares of iShares Fallen Angels USD Bond ETF by 4.3% in the second quarter. Insight Wealth Partners LLC now owns 134,016 shares of the company’s stock valued at $3,637,000 after acquiring an additional 5,555 shares in the last quarter.

iShares Fallen Angels USD Bond ETF Stock Performance

FALN stock opened at $27.73 on Wednesday. The business has a 50-day moving average price of $27.53 and a 200 day moving average price of $26.96. iShares Fallen Angels USD Bond ETF has a 1-year low of $24.82 and a 1-year high of $27.79.

iShares Fallen Angels USD Bond ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Monday, October 6th. Investors of record on Wednesday, October 1st were given a $0.1435 dividend. This is an increase from iShares Fallen Angels USD Bond ETF’s previous monthly dividend of $0.14. This represents a c) dividend on an annualized basis and a yield of 6.2%. The ex-dividend date was Wednesday, 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.