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

Shares of iShares Convertible Bond ETF (BATS:ICVT) hit a new 52-week high during trading on Monday . The stock traded as high as $84.74 and last traded at $84.43, with a volume of 202016 shares trading hands. The stock had previously closed at $84.75.

iShares Convertible Bond ETF Price Performance

The stock’s 50-day moving average price is $82.07 and its 200 day moving average price is $79.77.

iShares Convertible Bond ETF Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, September 6th. Investors of record on Tuesday, September 3rd were issued a $0.1528 dividend. The ex-dividend date was Tuesday, September 3rd.

Hedge Funds Weigh In On iShares Convertible Bond ETF

Several large investors have recently made changes to their positions in ICVT. Advisors Preferred LLC acquired a new stake in iShares Convertible Bond ETF in the 1st quarter valued at approximately $26,000. EverSource Wealth Advisors LLC grew its stake in shares of iShares Convertible Bond ETF by 210.6% in the second quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock worth $26,000 after acquiring an additional 219 shares during the last quarter. LRI Investments LLC bought a new position in iShares Convertible Bond ETF during the first quarter worth $29,000. LGT Financial Advisors LLC raised its stake in iShares Convertible Bond ETF by 336.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 362 shares of the company’s stock valued at $29,000 after purchasing an additional 279 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in iShares Convertible Bond ETF in the 2nd quarter valued at $33,000.

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.