Asset Allocation Strategies LLC has reduced its holdings in the iShares Fallen Angels USD Bond ETF (NASDAQ: FALN) by 18.8% during the third quarter of 2023, according to a recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm sold 42,940 shares, bringing its total ownership to 185,041 shares. This adjustment positions the iShares Fallen Angels ETF as 1.0% of Asset Allocation Strategies’ overall portfolio, ranking it as the firm’s 26th largest position.
As of the latest filing, the value of Asset Allocation Strategies’ holdings in the iShares Fallen Angels ETF stands at approximately $5,140,000.
Several other institutional investors have also modified their positions in the iShares Fallen Angels ETF recently. For instance, HighTower Advisors LLC increased its stake by 32.3% during the first quarter, now holding 10,664 shares valued at around $286,000 after acquiring an additional 2,606 shares. Raymond James Financial Inc. significantly boosted its investment by 126.9%, holding 370,217 shares worth approximately $9,918,000 following the purchase of 207,071 shares.
Ameriprise Financial Inc. has also raised its stake by 29.9%, now owning 2,068,827 shares valued at about $55,448,000 after buying an additional 476,097 shares. Compound Planning Inc. increased its holdings by 4.9%, now possessing 10,318 shares valued at $276,000. Lastly, Kestra Advisory Services LLC raised its position by 61.5%, now holding 71,972 shares worth approximately $1,928,000.
Recent Performance and Profile of iShares Fallen Angels ETF
On Thursday, the iShares Fallen Angels USD Bond ETF opened at $27.34. Over the past year, the ETF has experienced a low of $24.82 and a high of $27.79. The fund’s 50-day moving average price is $27.44, while the 200-day moving average stands at $27.25.
The iShares Fallen Angels USD Bond ETF, launched on June 14, 2016, is managed by BlackRock. It primarily invests in high-yield fixed income securities and tracks a market value weighted index of bonds that were initially rated investment grade but subsequently downgraded to sub-investment grade.
For investors interested in tracking hedge fund activity, HoldingsChannel.com provides updates on the latest 13F filings and insider trades related to the iShares Fallen Angels USD Bond ETF. Additionally, MarketBeat.com offers a free daily newsletter summarizing the latest news and analyst ratings for this and related investment vehicles.
