iShares Convertible Bond ETF (BATS:ICVT) Reaches New 1-Year High – Time to Buy?

iShares Convertible Bond ETF (BATS:ICVT) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $86.18 and last traded at $88.93, with a volume of 338203 shares traded. The stock had previously closed at $85.13.

iShares Convertible Bond ETF Trading Up 4.0 %

The firm’s 50-day moving average is $87.01 and its two-hundred day moving average is $84.83.

iShares Convertible Bond ETF Cuts Dividend

The company also recently disclosed a dividend, which was paid on Thursday, February 6th. Stockholders of record on Monday, February 3rd were given a dividend of $0.1406 per share. The ex-dividend date was Monday, February 3rd.

Hedge Funds Weigh In On iShares Convertible Bond ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wells Financial Advisors INC acquired a new stake in shares of iShares Convertible Bond ETF in the 4th quarter valued at $26,000. PSI Advisors LLC acquired a new position in iShares Convertible Bond ETF in the 4th quarter worth $29,000. Spire Wealth Management raised its holdings in shares of iShares Convertible Bond ETF by 56.9% in the fourth quarter. Spire Wealth Management now owns 452 shares of the company’s stock valued at $38,000 after purchasing an additional 164 shares during the last quarter. LGT Financial Advisors LLC boosted its position in iShares Convertible Bond ETF by 45.3% during the third quarter. LGT Financial Advisors LLC now owns 526 shares of the company’s stock valued at $44,000 after purchasing an additional 164 shares during the last quarter. Finally, Endeavor Private Wealth Inc. bought a new position in shares of iShares Convertible Bond ETF in the 4th quarter valued at about $45,000.

iShares Convertible Bond ETF Company Profile

The iShares Convertible Bond ETF (ICVT) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund tracks an index of USD-denominated convertible bonds weighted by market value. The index contains only cash-pay convertibles and excludes mandatory and preferred convertibles.