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. This decision, detailed in the firm’s most recent Form 13F filing with the Securities and Exchange Commission (SEC), reflects a sale of 42,940 shares, leaving the firm with 185,041 shares. This stake now accounts for 1.0% of Asset Allocation Strategies LLC’s portfolio, positioning it as the 26th largest investment within their holdings.
As of the latest SEC filing, the value of Asset Allocation Strategies LLC’s investment in the iShares Fallen Angels USD Bond ETF stands at approximately $5,140,000. This move comes as several other institutional investors have also adjusted their positions in the ETF, demonstrating a broader trend in the market.
Institutional Investors Adjust Holdings
HighTower Advisors LLC has increased its stake in the iShares Fallen Angels USD Bond ETF by 32.3%, now owning 10,664 shares valued at $286,000 after acquiring an additional 2,606 shares in the last quarter. Similarly, Raymond James Financial Inc. has significantly boosted its position by 126.9%, bringing its total to 370,217 shares worth $9,918,000 after acquiring 207,071 shares.
Ameriprise Financial Inc. has also increased its holdings by 29.9%, now controlling 2,068,827 shares valued at $55,448,000 following the purchase of an additional 476,097 shares. Meanwhile, Compound Planning Inc. raised its stake by 4.9%, owning 10,318 shares worth $276,000 after a purchase of 483 shares. Lastly, Kestra Advisory Services LLC expanded its position by 61.5%, now holding 71,972 shares valued at $1,928,000.
Performance and Profile of iShares Fallen Angels USD Bond ETF
On Thursday, the iShares Fallen Angels USD Bond ETF opened at $27.34. The fund has experienced a twelve-month price range, with a low of $24.82 and a high of $27.79. The ETF has a 50-day moving average price of $27.44 and a 200-day moving average price of $27.25, indicating a relatively stable performance in recent months.
The iShares Fallen Angels USD Bond ETF primarily invests in high-yield fixed income securities. It tracks a market value-weighted index of bonds that were originally rated investment grade but have since been downgraded to sub-investment grade. Launched on June 14, 2016, the fund is managed by BlackRock, a leading global asset management firm.
For those interested in further developments regarding the iShares Fallen Angels USD Bond ETF, including insights into other hedge funds’ positions, resources such as HoldingsChannel.com provide up-to-date information on 13F filings and insider trades related to this ETF.
