iShares Convertible Bond ETF (BATS:ICVT) Hits New 1-Year High – Here’s Why

iShares Convertible Bond ETF (BATS:ICVT) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $86.18 and last traded at $88.16, with a volume of 338203 shares traded. The stock had previously closed at $85.13.

iShares Convertible Bond ETF Stock Performance

The business’s 50-day simple moving average is $87.02 and its 200-day simple moving average is $84.47.

iShares Convertible Bond ETF Cuts Dividend

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

Hedge Funds Weigh In On iShares Convertible Bond ETF

A number of large investors have recently bought and sold shares of the stock. PSI Advisors LLC acquired a new stake in shares of iShares Convertible Bond ETF during the 4th quarter worth $29,000. Spire Wealth Management grew 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 valued at $38,000 after acquiring an additional 164 shares during the period. LGT Financial Advisors LLC grew 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 valued at $44,000 after acquiring an additional 164 shares during the period. Endeavor Private Wealth Inc. acquired a new stake in iShares Convertible Bond ETF during the fourth quarter worth about $45,000. Finally, Elevation Wealth Partners LLC raised its holdings in shares of iShares Convertible Bond ETF by 42.6% in the 4th quarter. Elevation Wealth Partners LLC now owns 897 shares of the company’s stock worth $76,000 after purchasing an additional 268 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.