iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) sees sharp rise in short-term interest

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iShares Fallen Angels USD Bond ETF (NASDAQ:FALN – Get Rating) saw a surge in short interest in March. As of March 31, there was short interest totaling 6,380,000 shares, an increase of 325.3% from the March 15 total of 1,500,000 shares. Based on an average daily trading volume of 1,886,800 shares, the days-to-cover ratio is currently 3.4 days.

FALN opened at $26.95 on Friday. iShares Fallen Angels USD Bond ETF has a fifty-two week low of $26.81 and a fifty-two week high of $30.44. The company’s fifty-day moving average is $27.69 and its 200-day moving average is $29.02.

The company also recently announced a monthly dividend, which was paid on Thursday, April 7. Investors of record on Monday, April 4 received a dividend of $0.104 per share. This is a boost from iShares Fallen Angels USD Bond ETF’s previous monthly dividend of $0.10. The ex-dividend date was Friday, April 1. This represents a dividend of $1.25 on an annualized basis and a dividend yield of 4.63%.

Several institutional investors and hedge funds have recently increased or reduced their stake in FALN. Newbridge Financial Services Group Inc. increased its holdings in iShares Fallen Angels USD Bond ETF by 11,033.3% in Q3. Newbridge Financial Services Group Inc. now owns 1,002 shares of the company valued at $30,000 after acquiring 993 additional shares in the last quarter. Concord Wealth Partners bought a new stake in iShares Fallen Angels USD Bond ETF in Q4 worth $37,000. Fortis Advisors LLC increased its stake in iShares Fallen Angels USD Bond ETF by 132.6% in Q3. Fortis Advisors LLC now owns 1,300 shares of the company valued at $39,000 after acquiring 741 additional shares in the last quarter. Lloyd Advisory Services LLC. bought a new stake in iShares Fallen Angels USD Bond ETF in Q4 worth $40,000. Finally, Aptus Capital Advisors LLC increased its holdings in iShares Fallen Angels USD Bond ETF by 13,031.3% in Q4. Aptus Capital Advisors LLC now owns 2,101 shares of the company valued at $62,000 after acquiring 2,085 additional shares in the last quarter.

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