iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Sees Unusually-High Trading Volume Following Dividend Announcement

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) saw strong trading volume on Monday after the company announced a dividend. 547,631 shares changed hands during mid-day trading, a decline of 25% from the previous session’s volume of 727,563 shares.The stock last traded at $26.07 and had previously closed at $26.19.

The newly announced dividend which will be paid on Friday, July 5th. Investors of record on Monday, July 1st will be paid a $0.1379 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $1.65 annualized dividend and a dividend yield of 6.34%.

iShares Fallen Angels USD Bond ETF Trading Up 0.4 %

The stock’s 50-day simple moving average is $26.38 and its 200 day simple moving average is $26.47.

Hedge Funds Weigh In On iShares Fallen Angels USD Bond ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bright Futures Wealth Management LLC. bought a new position in iShares Fallen Angels USD Bond ETF during the first quarter worth $635,000. Cetera Advisors LLC boosted its position in iShares Fallen Angels USD Bond ETF by 18.5% during the first quarter. Cetera Advisors LLC now owns 464,605 shares of the company’s stock worth $12,479,000 after purchasing an additional 72,447 shares during the period. Cetera Investment Advisers boosted its position in iShares Fallen Angels USD Bond ETF by 182.5% during the first quarter. Cetera Investment Advisers now owns 768,476 shares of the company’s stock worth $20,641,000 after purchasing an additional 496,455 shares during the period. Invst LLC boosted its position in iShares Fallen Angels USD Bond ETF by 13.5% during the first quarter. Invst LLC now owns 16,831 shares of the company’s stock worth $448,000 after purchasing an additional 2,005 shares during the period. Finally, Continuum Wealth Advisors LLC boosted its position in iShares Fallen Angels USD Bond ETF by 2.1% during the first quarter. Continuum Wealth Advisors LLC now owns 259,886 shares of the company’s stock worth $6,981,000 after purchasing an additional 5,389 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.