iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Sees Strong Trading Volume – Here’s Why

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) saw strong trading volume on Friday . 1,992,165 shares changed hands during trading, an increase of 176% from the previous session’s volume of 721,119 shares.The stock last traded at $27.00 and had previously closed at $27.03.

iShares Fallen Angels USD Bond ETF Price Performance

The business has a 50-day simple moving average of $27.12 and a 200-day simple moving average of $26.79.

iShares Fallen Angels USD Bond ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Friday, November 1st were given a dividend of $0.1409 per share. This represents a $1.69 annualized dividend and a dividend yield of 6.26%. The ex-dividend date was Friday, November 1st. This is a positive change from iShares Fallen Angels USD Bond ETF’s previous monthly dividend of $0.14.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Virtue Capital Management LLC grew its stake in shares of iShares Fallen Angels USD Bond ETF by 0.6% during the 3rd quarter. Virtue Capital Management LLC now owns 70,213 shares of the company’s stock valued at $1,920,000 after buying an additional 401 shares during the period. Executive Wealth Management LLC grew its stake in iShares Fallen Angels USD Bond ETF by 10.6% during the 3rd quarter. Executive Wealth Management LLC now owns 324,004 shares of the company’s stock worth $8,858,000 after buying an additional 31,055 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in iShares Fallen Angels USD Bond ETF by 52.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 831,984 shares of the company’s stock valued at $22,746,000 after buying an additional 287,900 shares during the last quarter. MML Investors Services LLC grew its position in shares of iShares Fallen Angels USD Bond ETF by 11.0% during the third quarter. MML Investors Services LLC now owns 427,302 shares of the company’s stock worth $11,682,000 after acquiring an additional 42,327 shares during the last quarter. Finally, IHT Wealth Management LLC grew its position in iShares Fallen Angels USD Bond ETF by 87.9% in the 3rd quarter. IHT Wealth Management LLC now owns 31,099 shares of the company’s stock worth $849,000 after purchasing an additional 14,546 shares during 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.