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

iShares Convertible Bond ETF (BATS:ICVT) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $86.18 and last traded at $87.80, with a volume of 338203 shares traded. The stock had previously closed at $85.13.

iShares Convertible Bond ETF Price Performance

The business has a 50-day simple moving average of $87.12 and a 200 day simple moving average of $83.67.

Institutional Investors Weigh In On iShares Convertible Bond ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ICVT. Austin Private Wealth LLC increased its stake in shares of iShares Convertible Bond ETF by 55.2% in the fourth quarter. Austin Private Wealth LLC now owns 8,934 shares of the company’s stock worth $759,000 after purchasing an additional 3,177 shares in the last quarter. Calton & Associates Inc. bought a new position in iShares Convertible Bond ETF in the 4th quarter worth $260,000. Synergy Asset Management LLC increased its stake in iShares Convertible Bond ETF by 159.9% in the 4th quarter. Synergy Asset Management LLC now owns 10,065 shares of the company’s stock worth $850,000 after buying an additional 6,192 shares in the last quarter. Gries Financial LLC raised its holdings in iShares Convertible Bond ETF by 20.8% during the fourth quarter. Gries Financial LLC now owns 11,113 shares of the company’s stock valued at $944,000 after acquiring an additional 1,916 shares during the period. Finally, Milestone Asset Management LLC lifted its position in shares of iShares Convertible Bond ETF by 6.5% in the fourth quarter. Milestone Asset Management LLC now owns 6,992 shares of the company’s stock valued at $594,000 after acquiring an additional 429 shares in the last quarter.

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.