iShares Convertible Bond ETF (BATS:ICVT) Sets New 12-Month High – Should You Buy?

iShares Convertible Bond ETF (BATS:ICVT) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $107.48 and last traded at $107.14, with a volume of 186951 shares. The stock had previously closed at $104.53.

iShares Convertible Bond ETF Stock Performance

The business has a fifty day simple moving average of $103.81 and a 200 day simple moving average of $101.87.

Hedge Funds Weigh In On iShares Convertible Bond ETF

Hedge funds and other institutional investors have recently modified their holdings of the business. Steigerwald Gordon & Koch Inc. purchased a new position in shares of iShares Convertible Bond ETF in the 3rd quarter worth approximately $26,000. Sound Income Strategies LLC boosted its stake in shares of iShares Convertible Bond ETF by 585.4% in the 3rd quarter. Sound Income Strategies LLC now owns 281 shares of the company’s stock worth $29,000 after buying an additional 240 shares during the last quarter. Strategic Advocates LLC boosted its stake in shares of iShares Convertible Bond ETF by 94.8% in the 4th quarter. Strategic Advocates LLC now owns 372 shares of the company’s stock worth $37,000 after buying an additional 181 shares during the last quarter. Sunbelt Securities Inc. boosted its stake in shares of iShares Convertible Bond ETF by 36.5% in the 3rd quarter. Sunbelt Securities Inc. now owns 389 shares of the company’s stock worth $39,000 after buying an additional 104 shares during the last quarter. Finally, Huntington National Bank boosted its stake in shares of iShares Convertible Bond ETF by 54,600.0% in the 3rd quarter. Huntington National Bank now owns 547 shares of the company’s stock worth $55,000 after buying an additional 546 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. ICVT was launched on Jun 2, 2015 and is managed by BlackRock.