iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Short Interest Up 116.8% in April

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) was the recipient of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 471,200 shares, a growth of 116.8% from the March 31st total of 217,300 shares. Based on an average daily volume of 789,000 shares, the short-interest ratio is currently 0.6 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Angeles Investment Advisors LLC bought a new position in shares of iShares Fallen Angels USD Bond ETF during the third quarter valued at approximately $26,431,000. Wright Fund Management LLC bought a new position in iShares Fallen Angels USD Bond ETF in the 3rd quarter worth $24,341,000. Envestnet Asset Management Inc. lifted its position in shares of iShares Fallen Angels USD Bond ETF by 63.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 2,385,363 shares of the company’s stock worth $62,974,000 after purchasing an additional 921,570 shares during the period. Wilbanks Smith & Thomas Asset Management LLC bought a new stake in shares of iShares Fallen Angels USD Bond ETF during the 4th quarter valued at about $16,210,000. Finally, Procyon Advisors LLC purchased a new position in shares of iShares Fallen Angels USD Bond ETF during the first quarter valued at about $12,111,000.

iShares Fallen Angels USD Bond ETF Trading Up 0.2 %

FALN traded up $0.06 during trading on Friday, hitting $26.23. 525,150 shares of the stock traded hands, compared to its average volume of 779,859. iShares Fallen Angels USD Bond ETF has a 12-month low of $24.12 and a 12-month high of $26.92. The firm has a 50-day moving average of $26.51 and a 200 day moving average of $26.06.

iShares Fallen Angels USD Bond ETF Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, April 5th. Stockholders of record on Tuesday, April 2nd were issued a dividend of $0.1692 per share. The ex-dividend date was Monday, April 1st. This represents a $2.03 dividend on an annualized basis and a dividend yield of 7.74%.

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.