iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Sets New 12-Month High at $27.11

Shares of iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $27.11 and last traded at $27.10, with a volume of 193752 shares trading hands. The stock had previously closed at $27.07.

iShares Fallen Angels USD Bond ETF Stock Up 0.4 %

The business has a 50 day moving average price of $26.57 and a 200-day moving average price of $26.51.

iShares Fallen Angels USD Bond ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Thursday, August 1st were given a $0.1385 dividend. This is an increase from iShares Fallen Angels USD Bond ETF’s previous monthly dividend of $0.14. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.66 annualized dividend and a yield of 6.12%.

Institutional Investors Weigh In On iShares Fallen Angels USD Bond ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FALN. Envestnet Asset Management Inc. grew its stake in shares of iShares Fallen Angels USD Bond ETF by 63.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 2,385,363 shares of the company’s stock valued at $62,974,000 after acquiring an additional 921,570 shares in the last quarter. Wilbanks Smith & Thomas Asset Management LLC acquired a new stake in iShares Fallen Angels USD Bond ETF during the 4th quarter valued at approximately $16,210,000. Cetera Investment Advisers grew its stake in iShares Fallen Angels USD Bond ETF by 182.5% during the 1st quarter. Cetera Investment Advisers now owns 768,476 shares of the company’s stock valued at $20,641,000 after purchasing an additional 496,455 shares in the last quarter. Procyon Advisors LLC purchased a new stake in iShares Fallen Angels USD Bond ETF during the 1st quarter worth approximately $12,111,000. Finally, Mather Group LLC. raised its position in shares of iShares Fallen Angels USD Bond ETF by 6.5% in the 2nd quarter. Mather Group LLC. now owns 7,077,331 shares of the company’s stock valued at $190,097,000 after purchasing an additional 432,656 shares in the last quarter.

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.