Short Interest in iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Drops By 54.0%

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) was the recipient of a significant drop in short interest in February. As of February 15th, there was short interest totalling 464,700 shares, a drop of 54.0% from the January 31st total of 1,010,000 shares. Based on an average daily volume of 847,000 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Trading of iShares Fallen Angels USD Bond ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in FALN. Nomura Asset Management Co. Ltd. grew its position in shares of iShares Fallen Angels USD Bond ETF by 70.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,421,084 shares of the company’s stock valued at $37,957,000 after acquiring an additional 589,100 shares during the period. State of Tennessee Department of Treasury acquired a new stake in iShares Fallen Angels USD Bond ETF in the 4th quarter valued at about $15,590,000. Mather Group LLC. grew its holdings in iShares Fallen Angels USD Bond ETF by 6.4% during the fourth quarter. Mather Group LLC. now owns 9,566,735 shares of the company’s stock worth $255,528,000 after purchasing an additional 575,494 shares during the period. Novem Group acquired a new position in iShares Fallen Angels USD Bond ETF during the fourth quarter worth approximately $13,107,000. Finally, Ameriprise Financial Inc. raised its stake in iShares Fallen Angels USD Bond ETF by 30.5% in the fourth quarter. Ameriprise Financial Inc. now owns 1,592,730 shares of the company’s stock valued at $42,540,000 after buying an additional 372,688 shares during the period.

iShares Fallen Angels USD Bond ETF Stock Up 0.3 %

Shares of NASDAQ:FALN traded up $0.09 during trading on Friday, hitting $27.14. 746,915 shares of the company were exchanged, compared to its average volume of 909,321. iShares Fallen Angels USD Bond ETF has a fifty-two week low of $25.90 and a fifty-two week high of $27.43. The firm has a fifty day moving average price of $26.92 and a two-hundred day moving average price of $27.04.

iShares Fallen Angels USD Bond ETF Increases Dividend

The company also recently announced a dividend, which was paid on Thursday, February 6th. Investors of record on Monday, February 3rd were issued a dividend of $0.1433 per share. This is an increase from iShares Fallen Angels USD Bond ETF’s previous dividend of $0.14. The ex-dividend date was Monday, February 3rd.

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.