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

iShares Convertible Bond ETF (BATS:ICVT) shares hit a new 52-week high during trading on Monday . The company traded as high as $88.55 and last traded at $88.60, with a volume of 626872 shares trading hands. The stock had previously closed at $88.29.

iShares Convertible Bond ETF Price Performance

The company’s 50 day simple moving average is $86.47 and its two-hundred day simple moving average is $82.30.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ICVT. Icon Wealth Advisors LLC lifted its holdings in shares of iShares Convertible Bond ETF by 4.9% during the 3rd quarter. Icon Wealth Advisors LLC now owns 3,048 shares of the company’s stock valued at $255,000 after buying an additional 142 shares during the last quarter. Braun Bostich & Associates Inc. lifted its stake in iShares Convertible Bond ETF by 3.8% in the third quarter. Braun Bostich & Associates Inc. now owns 4,198 shares of the company’s stock valued at $351,000 after acquiring an additional 155 shares during the last quarter. LGT Financial Advisors LLC grew its position in iShares Convertible Bond ETF by 45.3% in the third quarter. LGT Financial Advisors LLC now owns 526 shares of the company’s stock worth $44,000 after acquiring an additional 164 shares in the last quarter. Capital Wealth Management LLC increased its stake in shares of iShares Convertible Bond ETF by 0.4% during the 3rd quarter. Capital Wealth Management LLC now owns 40,021 shares of the company’s stock worth $3,349,000 after purchasing an additional 171 shares during the last quarter. Finally, Richard W. Paul & Associates LLC raised its holdings in shares of iShares Convertible Bond ETF by 1.7% during the 3rd quarter. Richard W. Paul & Associates LLC now owns 10,511 shares of the company’s stock valued at $879,000 after purchasing an additional 175 shares in 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.