iShares Convertible Bond ETF (BATS:ICVT) Reaches New 1-Year High – Here’s Why

iShares Convertible Bond ETF (BATS:ICVT)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $86.18 and last traded at $87.80, with a volume of 338203 shares traded. The stock had previously closed at $85.13.

iShares Convertible Bond ETF Stock Performance

The company’s 50 day moving average is $87.11 and its two-hundred day moving average is $83.65.

Institutional Investors Weigh In On iShares Convertible Bond ETF

Several large investors have recently made changes to their positions in the company. Susquehanna International Group LLP bought a new position in iShares Convertible Bond ETF during the second quarter valued at $80,458,000. Advisory Alpha LLC raised its holdings in iShares Convertible Bond ETF by 1.9% during the 2nd quarter. Advisory Alpha LLC now owns 428,286 shares of the company’s stock valued at $33,682,000 after buying an additional 7,855 shares during the period. Greenleaf Trust lifted its position in iShares Convertible Bond ETF by 4.2% in the third quarter. Greenleaf Trust now owns 419,049 shares of the company’s stock worth $35,062,000 after buying an additional 16,894 shares during the last quarter. Assetmark Inc. boosted its stake in 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 during the period. Finally, JPMorgan Chase & Co. increased its position in iShares Convertible Bond ETF by 32.6% during the third quarter. JPMorgan Chase & Co. now owns 228,239 shares of the company’s stock valued at $19,097,000 after acquiring an additional 56,149 shares during the last quarter.

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.