iShares Fallen Angels USD Bond ETF (NASDAQ:FALN – Get Rating) saw significant short interest growth during the month of May. As of May 15, there were short interests totaling 2,590,000 shares, a growth of 178.9% from the total of 928,800 shares as of April 30. Based on an average daily volume of 1,187,900 shares, the day-to-cover ratio is currently 2.2 days.
FALN shares opened at $26.38 on Friday. iShares Fallen Angels USD Bond ETF has a 12-month low of $25.33 and a 12-month high of $30.44. The company’s 50-day moving average is $26.67 and its 200-day moving average is $28.22.
The company also recently declared a monthly dividend, which was paid on Friday, May 6. Shareholders of record on Tuesday, May 3 received a dividend of $0.096. The ex-dividend date was Monday, May 2. This represents an annualized dividend of $1.15 and a yield of 4.37%.
A number of institutional investors and hedge funds have recently increased or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its equity position in the iShares Fallen Angels USD Bond ETF by 50.9% during Q1. EverSource Wealth Advisors LLC now owns 7,523 shares of the company valued at $209,000 after purchasing an additional 2,537 shares during the period. BNP Paribas Arbitrage SA purchased a new equity stake in iShares Fallen Angels USD Bond ETF during Q1 for $161,000. Range Financial Group LLC bought a new stake in shares of iShares Fallen Angels USD Bond ETF during Q1 worth $820,000. Buttonwood Financial Group LLC purchased a new equity stake in iShares Fallen Angels USD Bond ETF during Q1 worth $2,199,000. Finally, Wealthfront Advisers LLC purchased a new equity stake in iShares Fallen Angels USD Bond ETF during Q1 worth $328,000.
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