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

Shares of iShares Convertible Bond ETF (BATS:ICVT) hit a new 52-week high on Monday . The company traded as high as $86.18 and last traded at $83.91, with a volume of 338203 shares changing hands. The stock had previously closed at $85.13.

iShares Convertible Bond ETF Stock Down 1.9 %

The stock has a fifty day simple moving average of $86.74 and a two-hundred day simple moving average of $85.47.

iShares Convertible Bond ETF Increases Dividend

The firm also recently announced a dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, March 3rd were paid a $0.1466 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This is an increase from iShares Convertible Bond ETF’s previous dividend of $0.14.

Hedge Funds Weigh In On iShares Convertible Bond ETF

A number of hedge funds and other institutional investors have recently modified their holdings of ICVT. LPL Financial LLC boosted its stake in shares of iShares Convertible Bond ETF by 77.4% in 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. raised its holdings in shares of iShares Convertible Bond ETF by 30.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,469,314 shares of the company’s stock worth $124,848,000 after purchasing an additional 342,644 shares during the period. Prestige Wealth Management Group LLC raised its holdings in shares of 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 worth $26,703,000 after purchasing an additional 314,164 shares during the period. Bank of Nova Scotia raised its holdings in shares of iShares Convertible Bond ETF by 125.6% in the 4th quarter. Bank of Nova Scotia now owns 399,700 shares of the company’s stock worth $33,963,000 after purchasing an additional 222,500 shares during the period. Finally, Lebenthal Global Advisors LLC raised its holdings in shares of iShares Convertible Bond ETF by 83.6% in the 4th 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 period.

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.