Wrapmanager Inc. Invests $227,000 in iShares Fallen Angels USD Bond ETF (NASDAQ:FALN)

Wrapmanager Inc. purchased a new position in iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 8,511 shares of the company’s stock, valued at approximately $227,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of iShares Fallen Angels USD Bond ETF in the third quarter worth about $55,000. Cornerstone Wealth Management LLC purchased a new stake in shares of iShares Fallen Angels USD Bond ETF in the fourth quarter worth about $204,000. Copperleaf Capital LLC purchased a new stake in shares of iShares Fallen Angels USD Bond ETF in the fourth quarter worth about $229,000. Beacon Financial Advisory LLC purchased a new stake in iShares Fallen Angels USD Bond ETF in the fourth quarter valued at approximately $234,000. Finally, Concurrent Investment Advisors LLC purchased a new stake in iShares Fallen Angels USD Bond ETF in the third quarter valued at approximately $235,000.

iShares Fallen Angels USD Bond ETF Stock Up 0.5 %

Shares of FALN opened at $27.07 on Wednesday. The firm’s 50 day simple moving average is $26.89 and its 200 day simple moving average is $27.03. iShares Fallen Angels USD Bond ETF has a 1-year low of $25.90 and a 1-year high of $27.43.

iShares Fallen Angels USD Bond ETF Increases Dividend

The business also recently announced a dividend, which was paid on Thursday, February 6th. Investors of record on Monday, February 3rd were paid a $0.1433 dividend. 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.