Midwest Capital Advisors LLC Purchases New Stake in iShares Convertible Bond ETF (BATS:ICVT)

Midwest Capital Advisors LLC acquired a new position in iShares Convertible Bond ETF (BATS:ICVT) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 10,553 shares of the company’s stock, valued at approximately $897,000. iShares Convertible Bond ETF accounts for about 0.7% of Midwest Capital Advisors LLC’s portfolio, making the stock its 25th largest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ICVT. PSI Advisors LLC purchased a new stake in iShares Convertible Bond ETF in the 4th quarter worth about $29,000. Spire Wealth Management boosted its position in iShares Convertible Bond ETF by 56.9% during the fourth quarter. Spire Wealth Management now owns 452 shares of the company’s stock worth $38,000 after purchasing an additional 164 shares during the period. LGT Financial Advisors LLC boosted its position in iShares Convertible Bond ETF by 45.3% during the third quarter. LGT Financial Advisors LLC now owns 526 shares of the company’s stock worth $44,000 after purchasing an additional 164 shares during the period. Endeavor Private Wealth Inc. purchased a new position in shares of iShares Convertible Bond ETF in the fourth quarter worth about $45,000. Finally, Elevation Wealth Partners LLC raised its position in shares of iShares Convertible Bond ETF by 42.6% in the fourth quarter. Elevation Wealth Partners LLC now owns 897 shares of the company’s stock valued at $76,000 after purchasing an additional 268 shares during the period.

iShares Convertible Bond ETF Stock Performance

Shares of ICVT stock opened at $87.34 on Monday. The firm’s 50 day moving average is $87.00 and its 200 day moving average is $85.02. iShares Convertible Bond ETF has a 12 month low of $50.43 and a 12 month high of $58.18.

iShares Convertible Bond ETF Cuts Dividend

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

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.