Baker Avenue Asset Management LP Reduces Holdings in iShares Fallen Angels USD Bond ETF (NASDAQ:FALN)

Baker Avenue Asset Management LP reduced its stake in iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) by 21.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 217,915 shares of the company’s stock after selling 59,827 shares during the quarter. Baker Avenue Asset Management LP owned about 0.32% of iShares Fallen Angels USD Bond ETF worth $5,958,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Asset Dedication LLC purchased a new stake in shares of iShares Fallen Angels USD Bond ETF in the 2nd quarter valued at $34,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of iShares Fallen Angels USD Bond ETF in the second quarter worth about $49,000. Bell Investment Advisors Inc acquired a new stake in iShares Fallen Angels USD Bond ETF during the second quarter worth about $87,000. Consultiva Wealth Management CORP. purchased a new position in iShares Fallen Angels USD Bond ETF during the first quarter valued at approximately $106,000. Finally, First Horizon Advisors Inc. boosted its position in iShares Fallen Angels USD Bond ETF by 102.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 5,277 shares of the company’s stock worth $138,000 after purchasing an additional 2,665 shares in the last quarter.

iShares Fallen Angels USD Bond ETF Price Performance

Shares of NASDAQ:FALN traded up $0.06 during trading on Friday, hitting $27.18. 637,706 shares of the stock traded hands, compared to its average volume of 712,210. The company has a fifty day moving average price of $27.13 and a two-hundred day moving average price of $26.74. iShares Fallen Angels USD Bond ETF has a 52-week low of $25.00 and a 52-week high of $27.43.

iShares Fallen Angels USD Bond ETF Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Friday, November 1st were given a dividend of $0.1409 per share. The ex-dividend date was Friday, November 1st. This represents a $1.69 dividend on an annualized basis and a yield of 6.22%. This is an increase from iShares Fallen Angels USD Bond ETF’s previous monthly dividend of $0.14.

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.