Absolute Capital Management LLC Acquires New Stake in iShares Fallen Angels USD Bond ETF $FALN

Absolute Capital Management LLC acquired a new stake in iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 57,410 shares of the company’s stock, valued at approximately $1,567,000.

Several other hedge funds have also recently added to or reduced their stakes in FALN. Royal Bank of Canada raised its stake in iShares Fallen Angels USD Bond ETF by 32.3% in the 1st quarter. Royal Bank of Canada now owns 301,573 shares of the company’s stock valued at $8,079,000 after purchasing an additional 73,579 shares during the last quarter. NewEdge Advisors LLC raised its stake in iShares Fallen Angels USD Bond ETF by 13.3% in the 1st quarter. NewEdge Advisors LLC now owns 14,703 shares of the company’s stock valued at $394,000 after purchasing an additional 1,728 shares during the last quarter. JPMorgan Chase & Co. raised its stake in iShares Fallen Angels USD Bond ETF by 2.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 45,912 shares of the company’s stock valued at $1,246,000 after purchasing an additional 1,269 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in iShares Fallen Angels USD Bond ETF in the 2nd quarter valued at $255,000. Finally, Diversify Wealth Management LLC increased its stake in shares of iShares Fallen Angels USD Bond ETF by 3.0% in the 2nd quarter. Diversify Wealth Management LLC now owns 124,852 shares of the company’s stock worth $3,382,000 after acquiring an additional 3,603 shares during the last quarter.

iShares Fallen Angels USD Bond ETF Stock Up 0.7%

Shares of FALN opened at $27.08 on Friday. iShares Fallen Angels USD Bond ETF has a 52-week low of $26.37 and a 52-week high of $27.79. The stock has a fifty day simple moving average of $27.04 and a two-hundred day simple moving average of $27.22.

iShares Fallen Angels USD Bond ETF Increases Dividend

The business also recently announced a monthly dividend, which was paid on Thursday, June 4th. Shareholders of record on Monday, June 1st were paid a $0.1491 dividend. This is a boost from iShares Fallen Angels USD Bond ETF’s previous monthly dividend of $0.14. The ex-dividend date of this dividend was Monday, June 1st. This represents a c) dividend on an annualized basis and a dividend yield of 6.6%.

iShares Fallen Angels USD Bond ETF 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.