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

iShares Convertible Bond ETF (BATS:ICVT)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $86.14 and last traded at $86.57, with a volume of 267841 shares. The stock had previously closed at $86.04.

iShares Convertible Bond ETF Price Performance

The firm has a 50-day moving average price of $84.05 and a 200 day moving average price of $80.90.

iShares Convertible Bond ETF Cuts Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ICVT. Susquehanna International Group LLP bought a new position in iShares Convertible Bond ETF in the second quarter worth about $80,458,000. 1832 Asset Management L.P. lifted its stake in iShares Convertible Bond ETF by 162.9% in the second quarter. 1832 Asset Management L.P. now owns 729,587 shares of the company’s stock valued at $57,367,000 after buying an additional 452,039 shares during the last quarter. Certified Advisory Corp acquired a new position in shares of iShares Convertible Bond ETF during the second quarter valued at $12,818,000. 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 acquiring an additional 152,939 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of iShares Convertible Bond ETF by 14.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,094,735 shares of the company’s stock worth $86,079,000 after acquiring an additional 138,493 shares during the period.

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.