iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Reaches New 52-Week Low – Here’s Why

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) shares hit a new 52-week low on Wednesday . The stock traded as low as $26.35 and last traded at $26.3450, with a volume of 335282 shares trading hands. The stock had previously closed at $26.57.

iShares Fallen Angels USD Bond ETF Trading Down 0.8%

The business has a 50 day simple moving average of $26.88 and a two-hundred day simple moving average of $26.96.

iShares Fallen Angels USD Bond ETF Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, September 4th. Investors of record on Tuesday, September 1st were given a dividend of $0.1425 per share. The ex-dividend date was Tuesday, September 1st. This represents a c) annualized dividend and a yield of 6.5%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Root Financial Partners LLC lifted its stake in shares of iShares Fallen Angels USD Bond ETF by 6.1% during the first quarter. Root Financial Partners LLC now owns 6,477 shares of the company’s stock valued at $173,000 after acquiring an additional 375 shares during the period. Intergy Private Wealth LLC raised its holdings in iShares Fallen Angels USD Bond ETF by 5.1% during the 1st quarter. Intergy Private Wealth LLC now owns 9,685 shares of the company’s stock worth $259,000 after purchasing an additional 468 shares during the last quarter. Arete Wealth Advisors LLC lifted its position in iShares Fallen Angels USD Bond ETF by 4.4% during the 1st quarter. Arete Wealth Advisors LLC now owns 11,766 shares of the company’s stock valued at $314,000 after purchasing an additional 500 shares during the period. Dynamic Advisor Solutions LLC raised its stake in shares of iShares Fallen Angels USD Bond ETF by 2.1% during the second quarter. Dynamic Advisor Solutions LLC now owns 24,399 shares of the company’s stock worth $665,000 after buying an additional 500 shares during the last quarter. Finally, CoreCap Advisors LLC lifted its holdings in iShares Fallen Angels USD Bond ETF by 27.0% in the second quarter. CoreCap Advisors LLC now owns 2,359 shares of the company’s stock valued at $64,000 after buying an additional 501 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.