iShares Convertible Bond ETF (BATS:ICVT) Reaches New 52-Week High – What’s Next?

iShares Convertible Bond ETF (BATS:ICVT)’s share price hit a new 52-week high on Monday . The stock traded as high as $88.88 and last traded at $88.94, with a volume of 201234 shares changing hands. The stock had previously closed at $88.57.

iShares Convertible Bond ETF Stock Performance

The stock has a 50-day moving average price of $84.47 and a 200-day moving average price of $81.10.

iShares Convertible Bond ETF Cuts Dividend

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

Hedge Funds Weigh In On iShares Convertible Bond ETF

Several institutional investors and hedge funds have recently made changes to their positions in ICVT. Synovus Financial Corp acquired a new stake in iShares Convertible Bond ETF in the third quarter valued at $224,000. Sanctuary Advisors LLC raised its stake in shares of iShares Convertible Bond ETF by 9.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 61,751 shares of the company’s stock valued at $5,469,000 after purchasing an additional 5,320 shares in the last quarter. High Falls Advisors Inc lifted its position in shares of iShares Convertible Bond ETF by 7.7% during the third quarter. High Falls Advisors Inc now owns 4,211 shares of the company’s stock worth $352,000 after purchasing an additional 301 shares during the last quarter. EWA LLC grew its stake in iShares Convertible Bond ETF by 51.4% in the third quarter. EWA LLC now owns 6,279 shares of the company’s stock worth $542,000 after purchasing an additional 2,131 shares in the last quarter. Finally, MML Investors Services LLC raised its stake in iShares Convertible Bond ETF by 0.3% during the third quarter. MML Investors Services LLC now owns 105,378 shares of the company’s stock valued at $8,817,000 after buying an additional 320 shares in the last quarter.

About iShares Convertible Bond ETF

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.