iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Short Interest Down 93.6% in June

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) was the target of a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 35,827 shares, a drop of 93.6% from the May 31st total of 555,816 shares. Based on an average daily volume of 1,338,757 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.1% of the company’s stock are short sold.

Hedge Funds Weigh In On iShares Fallen Angels USD Bond ETF

Several institutional investors have recently added to or reduced their stakes in FALN. Wellington Grp LLC purchased a new position in iShares Fallen Angels USD Bond ETF in the first quarter valued at about $26,000. Global Retirement Partners LLC raised its holdings in shares of iShares Fallen Angels USD Bond ETF by 73.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,013 shares of the company’s stock worth $28,000 after purchasing an additional 428 shares during the period. Flagship Harbor Advisors LLC purchased a new position in iShares Fallen Angels USD Bond ETF in the fourth quarter valued at approximately $30,000. RMG Wealth Management LLC purchased a new position in iShares Fallen Angels USD Bond ETF in the first quarter valued at approximately $31,000. Finally, CoreCap Advisors LLC grew its holdings in iShares Fallen Angels USD Bond ETF by 46.4% during the fourth quarter. CoreCap Advisors LLC now owns 1,726 shares of the company’s stock valued at $47,000 after purchasing an additional 547 shares during the period.

iShares Fallen Angels USD Bond ETF Stock Performance

FALN traded up $0.04 during midday trading on Thursday, reaching $27.22. 812,380 shares of the company were exchanged, compared to its average volume of 1,197,784. The company’s fifty day moving average price is $27.08 and its 200 day moving average price is $27.20. iShares Fallen Angels USD Bond ETF has a one year low of $26.37 and a one year high of $27.79.

iShares Fallen Angels USD Bond ETF Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Thursday, June 4th. Shareholders of record on Monday, June 1st were given a $0.1491 dividend. This is an increase from iShares Fallen Angels USD Bond ETF’s previous monthly dividend of $0.14. This represents a c) annualized dividend and a yield of 6.6%. The ex-dividend date of this dividend was Monday, June 1st.

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.