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

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) was the recipient of 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 daily volume of 729,700 shares, the days-to-cover ratio is currently 2.4 days.

iShares Fallen Angels USD Bond ETF Trading Up 0.4 %

Shares of NASDAQ FALN traded up $0.10 during mid-day trading on Wednesday, reaching $27.21. 542,508 shares of the company were exchanged, compared to its average volume of 719,064. iShares Fallen Angels USD Bond ETF has a 1 year low of $25.57 and a 1 year high of $27.43. The firm has a 50-day moving average of $27.11 and a 200 day moving average of $26.81.

iShares Fallen Angels USD Bond ETF Increases Dividend

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

Institutional Investors Weigh In On iShares Fallen Angels USD Bond ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Asset Dedication LLC purchased a new stake in iShares Fallen Angels USD Bond ETF in the second quarter valued at about $34,000. Strategic Investment Solutions Inc. IL purchased a new stake in iShares Fallen Angels USD Bond ETF in the second quarter valued at about $49,000. Wilmington Savings Fund Society FSB purchased a new stake in iShares Fallen Angels USD Bond ETF in the third quarter valued at about $55,000. Bell Investment Advisors Inc purchased a new stake in iShares Fallen Angels USD Bond ETF in the second quarter valued at about $87,000. Finally, First Horizon Advisors Inc. raised its stake in iShares Fallen Angels USD Bond ETF by 102.0% in the second quarter. First Horizon Advisors Inc. now owns 5,277 shares of the company’s stock valued at $138,000 after buying an additional 2,665 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.