iShares Convertible Bond ETF (BATS:ICVT) Hits New 52-Week High – Should You Buy?

Shares of iShares Convertible Bond ETF (BATS:ICVT) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $87.27 and last traded at $87.23, with a volume of 362355 shares changing hands. The stock had previously closed at $86.19.

iShares Convertible Bond ETF Price Performance

The firm has a fifty day moving average of $83.13 and a 200 day moving average of $80.43.

iShares Convertible Bond ETF Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, September 6th. Investors of record on Tuesday, September 3rd were given a dividend of $0.1528 per share. The ex-dividend date was Tuesday, September 3rd.

Hedge Funds Weigh In On iShares Convertible Bond ETF

Several institutional investors and hedge funds have recently bought and sold shares of ICVT. Private Advisor Group LLC lifted its holdings in iShares Convertible Bond ETF by 3.9% in the third quarter. Private Advisor Group LLC now owns 31,568 shares of the company’s stock valued at $2,641,000 after acquiring an additional 1,199 shares during the last quarter. Creative Planning grew its holdings in shares of iShares Convertible Bond ETF by 12.3% during the 3rd quarter. Creative Planning now owns 3,325 shares of the company’s stock worth $278,000 after purchasing an additional 363 shares during the period. Blair William & Co. IL grew its holdings in shares of iShares Convertible Bond ETF by 19.2% during the 1st quarter. Blair William & Co. IL now owns 2,790 shares of the company’s stock worth $223,000 after purchasing an additional 449 shares during the period. Kades & Cheifetz LLC increased its position in shares of iShares Convertible Bond ETF by 3.7% during the 3rd quarter. Kades & Cheifetz LLC now owns 64,697 shares of the company’s stock worth $5,413,000 after purchasing an additional 2,328 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in iShares Convertible Bond ETF by 857.2% in the 2nd quarter. Bank of Montreal Can now owns 26,389 shares of the company’s stock valued at $2,088,000 after buying an additional 23,632 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.