iShares Convertible Bond ETF (BATS:ICVT) Reaches New 52-Week High – Time to Buy?

iShares Convertible Bond ETF (BATS:ICVT)’s stock price reached a new 52-week high on Monday . The stock traded as high as $86.18 and last traded at $83.91, with a volume of 338203 shares trading hands. The stock had previously closed at $85.13.

iShares Convertible Bond ETF Stock Down 1.8 %

The firm’s 50 day simple moving average is $86.80 and its two-hundred day simple moving average is $85.45.

iShares Convertible Bond ETF Increases Dividend

The company also recently declared a dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, March 3rd were issued a $0.1466 dividend. The ex-dividend date was Monday, March 3rd. This is a positive change from iShares Convertible Bond ETF’s previous dividend of $0.14.

Institutional Investors Weigh In On iShares Convertible Bond ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE increased its stake in iShares Convertible Bond ETF by 5.9% during the 4th quarter. Bank of America Corp DE now owns 2,454,117 shares of the company’s stock valued at $208,526,000 after purchasing an additional 136,263 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of iShares Convertible Bond ETF by 30.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 1,469,314 shares of the company’s stock worth $124,848,000 after acquiring an additional 342,644 shares in the last quarter. LPL Financial LLC raised its holdings in shares of iShares Convertible Bond ETF by 77.4% in the 4th quarter. LPL Financial LLC now owns 945,340 shares of the company’s stock worth $80,326,000 after acquiring an additional 412,335 shares during the last quarter. New York Life Investment Management LLC increased its holdings in iShares Convertible Bond ETF by 3.1% during the 4th quarter. New York Life Investment Management LLC now owns 492,630 shares of the company’s stock worth $41,859,000 after purchasing an additional 14,762 shares in the last quarter. Finally, Greenleaf Trust lifted its holdings in shares of iShares Convertible Bond ETF by 2.7% in the fourth quarter. Greenleaf Trust now owns 430,412 shares of the company’s stock valued at $36,572,000 after purchasing an additional 11,363 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.