iShares Convertible Bond ETF (BATS:ICVT) Sets New 12-Month High – What’s Next?

iShares Convertible Bond ETF (BATS:ICVT) shares hit a new 52-week high on Monday . The company traded as high as $86.14 and last traded at $86.57, with a volume of 267841 shares trading hands. The stock had previously closed at $86.04.

iShares Convertible Bond ETF Stock Performance

The firm’s 50-day simple moving average is $83.77 and its 200-day simple moving average is $80.77.

iShares Convertible Bond ETF Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, September 6th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.1528 per share. The ex-dividend date was Tuesday, September 3rd.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake in iShares Convertible Bond ETF by 210.6% during the second quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock worth $26,000 after purchasing an additional 219 shares during the last quarter. LRI Investments LLC purchased a new position in shares of iShares Convertible Bond ETF during the 1st quarter valued at about $29,000. LGT Financial Advisors LLC lifted its position in iShares Convertible Bond ETF by 336.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 362 shares of the company’s stock worth $29,000 after buying an additional 279 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in iShares Convertible Bond ETF in the second quarter worth approximately $33,000. Finally, Mattson Financial Services LLC purchased a new stake in iShares Convertible Bond ETF in the second quarter worth approximately $61,000.

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.