iShares Convertible Bond ETF (BATS:ICVT) Reaches New 12-Month High Following Dividend Announcement

iShares Convertible Bond ETF (BATS:ICVT) hit a new 52-week high during mid-day trading on Monday following a dividend announcement from the company. The company traded as high as $86.18 and last traded at $86.23, with a volume of 338203 shares traded. The stock had previously closed at $85.13.

The newly announced dividend which will be paid on Thursday, March 6th. Investors of record on Monday, March 3rd will be issued a $0.1466 dividend. The ex-dividend date is Monday, March 3rd. This is an increase from iShares Convertible Bond ETF’s previous dividend of $0.14.

iShares Convertible Bond ETF Trading Up 1.4 %

The business has a 50 day simple moving average of $86.91 and a two-hundred day simple moving average of $85.28.

Institutional Trading of iShares Convertible Bond ETF

A number of hedge funds have recently made changes to their positions in ICVT. Wells Financial Advisors INC bought a new position in iShares Convertible Bond ETF during the 4th quarter valued at $26,000. PSI Advisors LLC acquired a new stake in shares of iShares Convertible Bond ETF in the 4th quarter valued at about $29,000. Spire Wealth Management lifted its position in shares of 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 last quarter. LGT Financial Advisors LLC grew its stake in iShares Convertible Bond ETF by 45.3% in 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 in the last quarter. Finally, Endeavor Private Wealth Inc. bought a new stake in iShares Convertible Bond ETF in the fourth quarter valued at about $45,000.

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.