iShares Convertible Bond ETF (BATS:ICVT) Reaches New 52-Week High – What’s Next?

iShares Convertible Bond ETF (BATS:ICVT)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $87.27 and last traded at $87.23, with a volume of 362355 shares traded. The stock had previously closed at $86.19.

iShares Convertible Bond ETF Price Performance

The company’s 50 day simple moving average is $83.39 and its 200 day simple moving average is $80.57.

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 paid a dividend of $0.1528 per share. The ex-dividend date was Tuesday, September 3rd.

Hedge Funds Weigh In On iShares Convertible Bond ETF

A number of institutional investors and hedge funds have recently modified their holdings of the company. Envestnet Asset Management Inc. grew its stake in shares of iShares Convertible Bond ETF by 14.5% during the second quarter. Envestnet Asset Management Inc. now owns 1,094,735 shares of the company’s stock worth $86,079,000 after purchasing an additional 138,493 shares in the last quarter. Susquehanna International Group LLP acquired a new position in shares of iShares Convertible Bond ETF during the second quarter worth $80,458,000. 1832 Asset Management L.P. grew its stake in shares of iShares Convertible Bond ETF by 162.9% during the second quarter. 1832 Asset Management L.P. now owns 729,587 shares of the company’s stock worth $57,367,000 after purchasing an additional 452,039 shares in the last quarter. LPL Financial LLC grew its stake in shares of iShares Convertible Bond ETF by 8.4% during the second quarter. LPL Financial LLC now owns 503,155 shares of the company’s stock worth $39,563,000 after purchasing an additional 38,791 shares in the last quarter. Finally, AMG National Trust Bank boosted its stake in iShares Convertible Bond ETF by 7.7% in the second quarter. AMG National Trust Bank now owns 484,267 shares of the company’s stock valued at $38,078,000 after acquiring an additional 34,749 shares in the last quarter.

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.