iShares Convertible Bond ETF (BATS:ICVT) Hits New 12-Month High – Should You Buy?

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

iShares Convertible Bond ETF Stock Up 4.0 %

The business has a fifty day simple moving average of $87.01 and a two-hundred day simple moving average of $84.83.

iShares Convertible Bond ETF Cuts Dividend

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

Institutional Investors Weigh In On iShares Convertible Bond ETF

Several hedge funds and other institutional investors have recently made changes to their positions in ICVT. LPL Financial LLC raised its position in iShares Convertible Bond ETF by 77.4% during the 4th quarter. LPL Financial LLC now owns 945,340 shares of the company’s stock worth $80,326,000 after buying an additional 412,335 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of 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 acquiring an additional 342,644 shares in the last quarter. Prestige Wealth Management Group LLC raised its holdings in iShares Convertible Bond ETF by 323,880.4% in the 4th quarter. Prestige Wealth Management Group LLC now owns 314,261 shares of the company’s stock valued at $26,703,000 after acquiring an additional 314,164 shares during the last quarter. Bank of Nova Scotia lifted its position in iShares Convertible Bond ETF by 125.6% during the fourth quarter. Bank of Nova Scotia now owns 399,700 shares of the company’s stock worth $33,963,000 after buying an additional 222,500 shares during the period. Finally, Lebenthal Global Advisors LLC increased its position in iShares Convertible Bond ETF by 83.6% during the fourth quarter. Lebenthal Global Advisors LLC now owns 418,271 shares of the company’s stock worth $35,540,000 after purchasing an additional 190,400 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.