iShares Convertible Bond ETF (BATS:ICVT) Sets New 1-Year High – Still a Buy?

Shares of iShares Convertible Bond ETF (BATS:ICVT) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $112.67 and last traded at $112.54, with a volume of 45461 shares trading hands. The stock had previously closed at $112.35.

iShares Convertible Bond ETF Stock Performance

The company’s 50 day moving average price is $104.83 and its 200-day moving average price is $102.49.

Institutional Investors Weigh In On iShares Convertible Bond ETF

Several large investors have recently modified their holdings of ICVT. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of iShares Convertible Bond ETF during the third quarter worth $26,000. Sound Income Strategies LLC increased its position in shares of iShares Convertible Bond ETF by 585.4% during the third 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 period. Strategic Advocates LLC increased its position in shares of iShares Convertible Bond ETF by 94.8% during the fourth quarter. Strategic Advocates LLC now owns 372 shares of the company’s stock worth $37,000 after buying an additional 181 shares during the period. Sunbelt Securities Inc. increased its position in shares of iShares Convertible Bond ETF by 36.5% during the third quarter. Sunbelt Securities Inc. now owns 389 shares of the company’s stock worth $39,000 after buying an additional 104 shares during the period. Finally, Huntington National Bank increased its position in shares of iShares Convertible Bond ETF by 54,600.0% during the third quarter. Huntington National Bank now owns 547 shares of the company’s stock worth $55,000 after buying an additional 546 shares during the period.

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.