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

iShares Convertible Bond ETF (BATS:ICVT) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $86.18 and last traded at $83.91, with a volume of 338203 shares. The stock had previously closed at $85.13.

iShares Convertible Bond ETF Stock Down 1.8 %

The company’s fifty day moving average price is $86.80 and its 200 day moving average price is $85.45.

iShares Convertible Bond ETF Increases Dividend

The company also recently disclosed a dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, March 3rd were paid a $0.1466 dividend. This is a positive change from iShares Convertible Bond ETF’s previous dividend of $0.14. The ex-dividend date was Monday, March 3rd.

Hedge Funds Weigh In On iShares Convertible Bond ETF

Several hedge funds have recently modified their holdings of the company. Wells Financial Advisors INC purchased a new stake in shares of iShares Convertible Bond ETF during the fourth quarter valued at approximately $26,000. PSI Advisors LLC purchased a new position in iShares Convertible Bond ETF during the fourth quarter valued at approximately $29,000. Spire Wealth Management increased its holdings in iShares Convertible Bond ETF by 56.9% during the 4th quarter. Spire Wealth Management now owns 452 shares of the company’s stock worth $38,000 after acquiring an additional 164 shares during the period. Endeavor Private Wealth Inc. purchased a new stake in iShares Convertible Bond ETF in the 4th quarter worth approximately $45,000. Finally, Franklin Resources Inc. purchased a new position in shares of iShares Convertible Bond ETF during the 4th quarter valued at $62,000.

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.