Synovus Financial Corp Makes New Investment in iShares Convertible Bond ETF (BATS:ICVT)

Synovus Financial Corp bought a new stake in shares of iShares Convertible Bond ETF (BATS:ICVT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,680 shares of the company’s stock, valued at approximately $224,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ICVT. Susquehanna International Group LLP bought a new position in iShares Convertible Bond ETF during the second quarter valued at $80,458,000. 1832 Asset Management L.P. raised its position in shares of iShares Convertible Bond ETF by 162.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 729,587 shares of the company’s stock valued at $57,367,000 after buying an additional 452,039 shares in the last quarter. Certified Advisory Corp bought a new position in shares of iShares Convertible Bond ETF in the 2nd quarter valued at about $12,818,000. Assetmark Inc. grew its position in iShares Convertible Bond ETF by 150.4% in the third quarter. Assetmark Inc. now owns 254,643 shares of the company’s stock worth $21,306,000 after acquiring an additional 152,939 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in iShares Convertible Bond ETF by 14.5% during the second quarter. Envestnet Asset Management Inc. now owns 1,094,735 shares of the company’s stock worth $86,079,000 after acquiring an additional 138,493 shares during the last quarter.

iShares Convertible Bond ETF Stock Performance

Shares of ICVT stock opened at $85.40 on Friday. The stock’s 50 day simple moving average is $86.56 and its two-hundred day simple moving average is $82.34. iShares Convertible Bond ETF has a 1 year low of $50.43 and a 1 year high of $58.18.

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.