iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Sees Unusually-High Trading Volume – Still a Buy?

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) shares saw strong trading volume on Wednesday. Approximately 2,313,999 shares were traded during mid-day trading, an increase of 120% from the average daily volume of 1,050,423 shares. The stock last traded at $25.9250 and had previously closed at $25.93.

iShares Fallen Angels USD Bond ETF Trading Down 0.1%

The business’s 50-day simple moving average is $26.29 and its 200-day simple moving average is $26.92.

iShares Fallen Angels USD Bond ETF Increases Dividend

The company also recently declared a monthly dividend, which was paid on Tuesday, October 6th. Stockholders of record on Thursday, October 1st were issued a dividend of $0.1471 per share. This represents a $1.77 dividend on an annualized basis and a dividend yield of 6.8%. This is a boost from iShares Fallen Angels USD Bond ETF’s previous monthly dividend of $0.1425. The ex-dividend date was Thursday, October 1st.

Hedge Funds Weigh In On iShares Fallen Angels USD Bond ETF

Large investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC lifted its holdings in iShares Fallen Angels USD Bond ETF by 38.4% in the 2nd quarter. NewEdge Advisors LLC now owns 73,149 shares of the company’s stock worth $1,993,000 after buying an additional 20,311 shares in the last quarter. Altura Wealth Advisors Inc. grew its stake in shares of iShares Fallen Angels USD Bond ETF by 181.1% during the third quarter. Altura Wealth Advisors Inc. now owns 45,763 shares of the company’s stock valued at $1,187,000 after acquiring an additional 29,484 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in shares of iShares Fallen Angels USD Bond ETF during the second quarter valued at about $548,000. First Citizens Bank & Trust Co. purchased a new stake in shares of iShares Fallen Angels USD Bond ETF during the third quarter worth about $4,891,000. Finally, Gateway Wealth Partners LLC purchased a new stake in shares of iShares Fallen Angels USD Bond ETF during the first quarter worth about $567,000.

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.