iShares Convertible Bond ETF (BATS:ICVT) Hits New 1-Year High – What’s Next?

iShares Convertible Bond ETF (BATS:ICVT) shares reached a new 52-week high during mid-day trading on Wednesday . The stock 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 Price Performance

The stock’s 50 day moving average is $87.12 and its 200-day moving average is $83.67.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. AE Wealth Management LLC lifted its position in iShares Convertible Bond ETF by 27.1% in the 2nd quarter. AE Wealth Management LLC now owns 8,066 shares of the company’s stock valued at $634,000 after acquiring an additional 1,721 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of iShares Convertible Bond ETF by 210.6% during the second quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock valued at $26,000 after purchasing an additional 219 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of iShares Convertible Bond ETF by 857.2% during the second quarter. Bank of Montreal Can now owns 26,389 shares of the company’s stock valued at $2,088,000 after purchasing an additional 23,632 shares in the last quarter. Dark Forest Capital Management LP boosted its position in shares of iShares Convertible Bond ETF by 26.3% during the second quarter. Dark Forest Capital Management LP now owns 17,423 shares of the company’s stock valued at $1,370,000 after buying an additional 3,633 shares during the last quarter. Finally, Susquehanna International Group LLP bought a new stake in iShares Convertible Bond ETF in the 2nd quarter worth about $80,458,000.

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.