iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Sees Significant Growth in Short Interest

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) saw a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 1,730,000 shares, a growth of 275.0% from the October 31st total of 461,300 shares. Based on an average trading volume of 729,700 shares, the days-to-cover ratio is currently 2.4 days.

iShares Fallen Angels USD Bond ETF Stock Performance

iShares Fallen Angels USD Bond ETF stock traded up $0.10 during mid-day trading on Wednesday, hitting $27.21. The company’s stock had a trading volume of 542,508 shares, compared to its average volume of 719,064. The company has a 50 day moving average of $27.11 and a 200-day moving average of $26.81. iShares Fallen Angels USD Bond ETF has a one year low of $25.57 and a one year high of $27.43.

iShares Fallen Angels USD Bond ETF Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Friday, November 1st were given a $0.1409 dividend. This represents a $1.69 annualized dividend and a yield of 6.21%. The ex-dividend date of this dividend was Friday, November 1st. This is an increase from iShares Fallen Angels USD Bond ETF’s previous monthly dividend of $0.14.

Hedge Funds Weigh In On iShares Fallen Angels USD Bond ETF

Several hedge funds have recently bought and sold shares of FALN. Mather Group LLC. lifted its holdings in shares of iShares Fallen Angels USD Bond ETF by 27.0% in the 3rd quarter. Mather Group LLC. now owns 8,991,241 shares of the company’s stock worth $245,821,000 after buying an additional 1,913,910 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of iShares Fallen Angels USD Bond ETF by 1.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,438,047 shares of the company’s stock worth $63,852,000 after buying an additional 26,058 shares during the period. LPL Financial LLC lifted its holdings in shares of iShares Fallen Angels USD Bond ETF by 3.7% in the 2nd quarter. LPL Financial LLC now owns 1,787,437 shares of the company’s stock worth $46,813,000 after buying an additional 63,746 shares during the period. Angeles Investment Advisors LLC lifted its holdings in shares of iShares Fallen Angels USD Bond ETF by 39.8% in the 3rd quarter. Angeles Investment Advisors LLC now owns 1,294,400 shares of the company’s stock worth $35,389,000 after buying an additional 368,400 shares during the period. Finally, Allworth Financial LP lifted its holdings in shares of iShares Fallen Angels USD Bond ETF by 1.3% in the 3rd quarter. Allworth Financial LP now owns 1,128,492 shares of the company’s stock worth $30,853,000 after buying an additional 13,997 shares during the period.

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.