iShares Convertible Bond ETF (BATS:ICVT) Hits New 12-Month High – Still a Buy?

Shares of iShares Convertible Bond ETF (BATS:ICVT) hit a new 52-week high on Monday . The stock traded as high as $86.18 and last traded at $88.16, with a volume of 338203 shares trading hands. The stock had previously closed at $85.13.

iShares Convertible Bond ETF Trading Up 3.2 %

The stock’s fifty day moving average is $87.02 and its two-hundred day moving average is $84.47.

iShares Convertible Bond ETF Cuts Dividend

The firm also recently announced a dividend, which was paid on Thursday, February 6th. Stockholders of record on Monday, February 3rd were paid a dividend of $0.1406 per share. The ex-dividend date was Monday, February 3rd.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. LPL Financial LLC grew its stake in iShares Convertible Bond ETF by 77.4% during the 4th quarter. LPL Financial LLC now owns 945,340 shares of the company’s stock valued at $80,326,000 after purchasing an additional 412,335 shares in the last quarter. Lebenthal Global Advisors LLC boosted its stake in shares of iShares Convertible Bond ETF by 83.6% during the 4th quarter. Lebenthal Global Advisors LLC now owns 418,271 shares of the company’s stock valued at $35,540,000 after buying an additional 190,400 shares during the last quarter. Assetmark Inc. grew its position in shares of iShares Convertible Bond ETF by 150.4% during the third quarter. Assetmark Inc. now owns 254,643 shares of the company’s stock worth $21,306,000 after buying an additional 152,939 shares in the last quarter. Insight Wealth Strategies LLC bought a new stake in shares of iShares Convertible Bond ETF in the fourth quarter worth $10,815,000. Finally, Redhawk Wealth Advisors Inc. acquired a new stake in iShares Convertible Bond ETF in the fourth quarter valued at $9,321,000.

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.