iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) Reaches New 52-Week Low – Should You Sell?

iShares Fallen Angels USD Bond ETF (NASDAQ:FALN)’s stock price reached a new 52-week low during trading on Friday . The stock traded as low as $25.76 and last traded at $25.82, with a volume of 2737645 shares. The stock had previously closed at $26.29.

iShares Fallen Angels USD Bond ETF Stock Down 2.2 %

The stock has a fifty day moving average of $26.91 and a 200 day moving average of $26.99.

iShares Fallen Angels USD Bond ETF Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, April 4th. Stockholders of record on Tuesday, April 1st were given a dividend of $0.1408 per share. This is a boost from iShares Fallen Angels USD Bond ETF’s previous monthly dividend of $0.14. This represents a $1.69 dividend on an annualized basis and a dividend yield of 6.57%. The ex-dividend date of this dividend was Tuesday, April 1st.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FALN. Mather Group LLC. increased its holdings in shares of iShares Fallen Angels USD Bond ETF by 6.4% in 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 last quarter. LPL Financial LLC increased its stake in iShares Fallen Angels USD Bond ETF by 3.3% in the 4th quarter. LPL Financial LLC now owns 1,984,243 shares of the company’s stock worth $52,999,000 after acquiring an additional 63,287 shares during the last quarter. Ameriprise Financial Inc. increased its stake in iShares Fallen Angels USD Bond ETF by 30.5% in the 4th quarter. Ameriprise Financial Inc. now owns 1,592,730 shares of the company’s stock worth $42,540,000 after acquiring an additional 372,688 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in iShares Fallen Angels USD Bond ETF by 70.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,421,084 shares of the company’s stock valued at $37,957,000 after purchasing an additional 589,100 shares in the last quarter. Finally, Allworth Financial LP grew its stake in shares of iShares Fallen Angels USD Bond ETF by 6.9% in the 4th quarter. Allworth Financial LP now owns 1,206,488 shares of the company’s stock worth $32,563,000 after buying an additional 77,996 shares in the last quarter.

iShares Fallen Angels USD Bond ETF Company Profile

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.