iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Shares Sold by Abich Financial Wealth Management LLC

Abich Financial Wealth Management LLC reduced its stake in shares of iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) by 22.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,610 shares of the company’s stock after selling 479 shares during the quarter. Abich Financial Wealth Management LLC’s holdings in iShares Fallen Angels USD Bond ETF were worth $43,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in FALN. SouthState Corp purchased a new stake in shares of iShares Fallen Angels USD Bond ETF in the 4th quarter valued at $30,000. Vermillion & White Wealth Management Group LLC purchased a new stake in iShares Fallen Angels USD Bond ETF in the fourth quarter valued at $33,000. First Horizon Advisors Inc. grew its position in iShares Fallen Angels USD Bond ETF by 120.7% during the 4th quarter. First Horizon Advisors Inc. now owns 2,079 shares of the company’s stock worth $55,000 after purchasing an additional 1,137 shares during the period. Private Trust Co. NA raised its stake in shares of iShares Fallen Angels USD Bond ETF by 19.6% during the 4th quarter. Private Trust Co. NA now owns 3,290 shares of the company’s stock valued at $87,000 after buying an additional 540 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of iShares Fallen Angels USD Bond ETF by 143.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,323 shares of the company’s stock valued at $88,000 after buying an additional 1,957 shares during the period.

iShares Fallen Angels USD Bond ETF Stock Down 0.3 %

FALN stock traded down $0.09 during trading on Friday, hitting $26.58. 651,414 shares of the company traded hands, compared to its average volume of 720,502. iShares Fallen Angels USD Bond ETF has a 1 year low of $24.12 and a 1 year high of $26.92. The stock’s 50-day simple moving average is $26.44 and its 200 day simple moving average is $26.49.

iShares Fallen Angels USD Bond ETF Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, August 6th. Stockholders of record on Thursday, August 1st will be paid a dividend of $0.1385 per share. This is a boost from iShares Fallen Angels USD Bond ETF’s previous monthly dividend of $0.14. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $1.66 dividend on an annualized basis and a dividend yield of 6.25%.

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.