iShares Convertible Bond ETF (BATS:ICVT) Sets New 12-Month High – Here’s Why

iShares Convertible Bond ETF (BATS:ICVT) reached a new 52-week high during trading on Monday . The company traded as high as $86.18 and last traded at $86.76, with a volume of 338203 shares changing hands. The stock had previously closed at $85.13.

iShares Convertible Bond ETF Stock Performance

The company’s 50 day simple moving average is $86.92 and its two-hundred day simple moving average is $85.13.

iShares Convertible Bond ETF Cuts Dividend

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

Institutional Trading of iShares Convertible Bond ETF

Institutional investors have recently added to or reduced their stakes in the stock. Wells Financial Advisors INC acquired a new position in iShares Convertible Bond ETF during the fourth quarter worth $26,000. PSI Advisors LLC acquired a new position in iShares Convertible Bond ETF during the 4th quarter worth approximately $29,000. Spire Wealth Management increased its holdings in shares of iShares Convertible Bond ETF by 56.9% in the 4th quarter. Spire Wealth Management now owns 452 shares of the company’s stock valued at $38,000 after acquiring an additional 164 shares during the last quarter. LGT Financial Advisors LLC grew its position in shares of iShares Convertible Bond ETF by 45.3% in the 3rd quarter. LGT Financial Advisors LLC now owns 526 shares of the company’s stock valued at $44,000 after buying an additional 164 shares during the last quarter. Finally, Endeavor Private Wealth Inc. purchased a new position in iShares Convertible Bond ETF during the 4th quarter worth approximately $45,000.

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.