Modern Wealth Management LLC Invests $2.16 Million in iShares Convertible Bond ETF (BATS:ICVT)

Modern Wealth Management LLC bought a new stake in shares of iShares Convertible Bond ETF (BATS:ICVT) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 24,398 shares of the company’s stock, valued at approximately $2,155,000.

A number of other large investors also recently added to or reduced their stakes in the business. LPL Financial LLC lifted its stake in 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 purchasing an additional 412,335 shares in the last quarter. Lebenthal Global Advisors LLC increased its holdings in shares of iShares Convertible Bond ETF by 83.6% in the fourth quarter. Lebenthal Global Advisors LLC now owns 418,271 shares of the company’s stock worth $35,540,000 after purchasing an additional 190,400 shares during the last quarter. Insight Wealth Strategies LLC purchased a new stake in shares of iShares Convertible Bond ETF in the fourth quarter worth about $10,815,000. Redhawk Wealth Advisors Inc. bought a new position in iShares Convertible Bond ETF during the fourth quarter valued at approximately $9,321,000. Finally, Thrivent Financial for Lutherans grew its holdings in iShares Convertible Bond ETF by 597.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 119,923 shares of the company’s stock valued at $10,457,000 after buying an additional 102,731 shares in the last quarter.

iShares Convertible Bond ETF Stock Up 0.9 %

BATS:ICVT opened at $85.90 on Wednesday. iShares Convertible Bond ETF has a 1 year low of $75.97 and a 1 year high of $89.71. The stock’s 50 day simple moving average is $86.58 and its two-hundred day simple moving average is $85.78.

iShares Convertible Bond ETF Increases Dividend

The firm also recently declared a dividend, which was paid on Thursday, March 6th. Investors of record on Monday, March 3rd were given a $0.1466 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This is a boost from iShares Convertible Bond ETF’s previous dividend of $0.14.

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.