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

iShares Convertible Bond ETF (BATS:ICVT) hit a new 52-week high on Monday . The company traded as high as $89.63 and last traded at $88.94, with a volume of 297115 shares. The stock had previously closed at $89.28.

iShares Convertible Bond ETF Stock Up 0.6 %

The business has a 50 day simple moving average of $85.40 and a two-hundred day simple moving average of $81.61.

Hedge Funds Weigh In On iShares Convertible Bond ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its holdings in iShares Convertible Bond ETF by 210.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company’s stock valued at $26,000 after acquiring an additional 219 shares during the period. LGT Financial Advisors LLC raised its position in shares of iShares Convertible Bond ETF by 336.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 362 shares of the company’s stock worth $29,000 after acquiring an additional 279 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of iShares Convertible Bond ETF in the 2nd quarter worth approximately $33,000. Mattson Financial Services LLC bought a new position in shares of iShares Convertible Bond ETF in the 2nd quarter worth approximately $61,000. Finally, Brown Financial Advisors bought a new position in iShares Convertible Bond ETF during the 2nd quarter valued at approximately $95,000.

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.