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

Shares of iShares Convertible Bond ETF (BATS:ICVT) reached a new 52-week high during trading on Monday . The company traded as high as $86.18 and last traded at $86.76, with a volume of 338203 shares trading hands. The stock had previously closed at $85.13.

iShares Convertible Bond ETF Stock Performance

The stock’s fifty day moving average is $87.00 and its two-hundred day moving average is $85.02.

iShares Convertible Bond ETF Cuts Dividend

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

Institutional Investors Weigh In On iShares Convertible Bond ETF

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE grew its position in iShares Convertible Bond ETF by 5.9% during the fourth quarter. Bank of America Corp DE now owns 2,454,117 shares of the company’s stock valued at $208,526,000 after acquiring an additional 136,263 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in iShares Convertible Bond ETF by 30.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,469,314 shares of the company’s stock valued at $124,848,000 after purchasing an additional 342,644 shares during the last quarter. LPL Financial LLC lifted its position in iShares Convertible Bond ETF by 77.4% in the fourth quarter. LPL Financial LLC now owns 945,340 shares of the company’s stock valued at $80,326,000 after purchasing an additional 412,335 shares during the last quarter. New York Life Investment Management LLC boosted its stake in shares of iShares Convertible Bond ETF by 3.1% during the fourth quarter. New York Life Investment Management LLC now owns 492,630 shares of the company’s stock valued at $41,859,000 after purchasing an additional 14,762 shares during the period. Finally, Greenleaf Trust grew its holdings in shares of iShares Convertible Bond ETF by 2.7% in the fourth quarter. Greenleaf Trust now owns 430,412 shares of the company’s stock worth $36,572,000 after purchasing an additional 11,363 shares during the last quarter.

About iShares Convertible Bond ETF

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.