Manning & Napier Advisors LLC Acquires New Stake in iShares Fallen Angels USD Bond ETF (NASDAQ:FALN)

Manning & Napier Advisors LLC bought a new stake in iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 111,840 shares of the company’s stock, valued at approximately $2,929,000. Manning & Napier Advisors LLC owned about 0.18% of iShares Fallen Angels USD Bond ETF at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SouthState Corp acquired a new position in shares of iShares Fallen Angels USD Bond ETF in the fourth quarter valued at approximately $30,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of iShares Fallen Angels USD Bond ETF during the 4th quarter worth $33,000. First Horizon Advisors Inc. boosted its holdings in shares of iShares Fallen Angels USD Bond ETF by 120.7% during the fourth quarter. First Horizon Advisors Inc. now owns 2,079 shares of the company’s stock worth $55,000 after purchasing an additional 1,137 shares during the last quarter. Private Trust Co. NA grew its position in shares of iShares Fallen Angels USD Bond ETF by 19.6% in the fourth quarter. Private Trust Co. NA now owns 3,290 shares of the company’s stock valued at $87,000 after purchasing an additional 540 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in iShares Fallen Angels USD Bond ETF by 143.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,323 shares of the company’s stock valued at $88,000 after purchasing an additional 1,957 shares during the last quarter.

iShares Fallen Angels USD Bond ETF Stock Up 0.2 %

NASDAQ:FALN traded up $0.06 during mid-day trading on Friday, reaching $26.67. The company’s stock had a trading volume of 834,613 shares, compared to its average volume of 732,265. iShares Fallen Angels USD Bond ETF has a twelve month low of $24.12 and a twelve month high of $26.92. The company’s fifty day simple moving average is $26.46 and its two-hundred day simple moving average is $26.49.

iShares Fallen Angels USD Bond ETF Increases Dividend

The business also recently declared a monthly dividend, which was paid on Tuesday, August 6th. Investors of record on Thursday, August 1st were given a dividend of $0.1385 per share. This is a positive change from iShares Fallen Angels USD Bond ETF’s previous monthly dividend of $0.14. The ex-dividend date was Thursday, August 1st. This represents a $1.66 annualized dividend and a yield of 6.23%.

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.