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

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) saw a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 635,800 shares, a drop of 51.1% from the February 28th total of 1,300,000 shares. Currently, 0.9% of the shares of the company are short sold. Based on an average daily volume of 916,200 shares, the days-to-cover ratio is presently 0.7 days.

iShares Fallen Angels USD Bond ETF Stock Down 0.1 %

Shares of iShares Fallen Angels USD Bond ETF stock traded down $0.04 on Friday, hitting $26.78. The stock had a trading volume of 688,068 shares, compared to its average volume of 755,635. iShares Fallen Angels USD Bond ETF has a 52-week low of $25.90 and a 52-week high of $27.43. The company’s 50 day moving average price is $26.97 and its 200 day moving average price is $27.02.

iShares Fallen Angels USD Bond ETF Cuts Dividend

The company also recently disclosed a dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, March 3rd were paid a $0.1372 dividend. The ex-dividend date was Monday, March 3rd.

Institutional Investors Weigh In On iShares Fallen Angels USD Bond ETF

Large investors have recently modified their holdings of the company. Kingsview Wealth Management LLC boosted its stake in iShares Fallen Angels USD Bond ETF by 2.1% during the 3rd quarter. Kingsview Wealth Management LLC now owns 19,733 shares of the company’s stock worth $540,000 after purchasing an additional 415 shares during the period. D.A. Davidson & CO. raised its holdings in shares of iShares Fallen Angels USD Bond ETF by 8.4% in the third quarter. D.A. Davidson & CO. now owns 35,662 shares of the company’s stock valued at $975,000 after buying an additional 2,754 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of iShares Fallen Angels USD Bond ETF by 360.5% during the third quarter. HighTower Advisors LLC now owns 38,861 shares of the company’s stock worth $1,065,000 after buying an additional 30,422 shares during the period. IHT Wealth Management LLC grew its holdings in shares of iShares Fallen Angels USD Bond ETF by 87.9% during the third quarter. IHT Wealth Management LLC now owns 31,099 shares of the company’s stock worth $849,000 after buying an additional 14,546 shares during the last quarter. Finally, MML Investors Services LLC increased its position in iShares Fallen Angels USD Bond ETF by 11.0% in the 3rd quarter. MML Investors Services LLC now owns 427,302 shares of the company’s stock valued at $11,682,000 after acquiring an additional 42,327 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.