iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Reaches New 1-Year Low – What’s Next?

Shares of iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) hit a new 52-week low during mid-day trading on Monday. The stock traded as low as $25.61 and last traded at $25.6150, with a volume of 573,015 shares traded. The stock had previously closed at $25.68.

iShares Fallen Angels USD Bond ETF Trading Down 0.3%

The firm has a 50-day moving average price of $26.51 and a two-hundred day moving average price of $26.86.

iShares Fallen Angels USD Bond ETF Increases Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its position in iShares Fallen Angels USD Bond ETF by 3.5% during 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 in the last quarter. First Citizens Bank & Trust Co. acquired a new position in shares of iShares Fallen Angels USD Bond ETF during the 3rd quarter worth about $4,891,000. Client First Investment Management LLC bought a new position in iShares Fallen Angels USD Bond ETF in the second quarter valued at approximately $3,790,000. ATX Financial Planning LLC acquired a new position in iShares Fallen Angels USD Bond ETF during the first quarter worth $2,057,000. Finally, FOCUS Wealth Advisors LLC acquired a new stake in iShares Fallen Angels USD Bond ETF in the third quarter valued at $1,968,000.

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.