iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Sees Strong Trading Volume – Here’s Why

Shares of iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) saw unusually-high trading volume on Wednesday . Approximately 894,532 shares traded hands during mid-day trading, an increase of 54% from the previous session’s volume of 582,252 shares.The stock last traded at $26.83 and had previously closed at $26.66.

iShares Fallen Angels USD Bond ETF Stock Up 0.6 %

The firm’s 50 day moving average is $26.97 and its two-hundred day moving average is $26.93.

iShares Fallen Angels USD Bond ETF Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, December 18th were paid a $0.1371 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.64 annualized dividend and a dividend yield of 6.13%.

Hedge Funds Weigh In On iShares Fallen Angels USD Bond ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in FALN. Strategic Investment Solutions Inc. IL bought a new position in iShares Fallen Angels USD Bond ETF during the 2nd quarter worth approximately $49,000. Wilmington Savings Fund Society FSB bought a new position in iShares Fallen Angels USD Bond ETF during the third quarter worth $55,000. Outlook Wealth Advisors LLC bought a new position in iShares Fallen Angels USD Bond ETF during the third quarter worth $203,000. Saxony Capital Management LLC acquired a new position in iShares Fallen Angels USD Bond ETF in the third quarter valued at $208,000. Finally, Detalus Advisors LLC bought a new stake in iShares Fallen Angels USD Bond ETF during the third quarter valued at $218,000.

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.