iShares Convertible Bond ETF (BATS:ICVT) Sets New 12-Month High – Here’s Why

Shares of iShares Convertible Bond ETF (BATS:ICVT) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $124.58 and last traded at $124.55, with a volume of 9564 shares traded. The stock had previously closed at $119.75.

iShares Convertible Bond ETF Price Performance

The stock has a 50-day moving average of $115.84 and a 200-day moving average of $107.13.

Institutional Investors Weigh In On iShares Convertible Bond ETF

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Town Capital LLC purchased a new stake in iShares Convertible Bond ETF in the first quarter valued at approximately $377,000. Parallel Advisors LLC raised its stake in iShares Convertible Bond ETF by 28.8% in the first quarter. Parallel Advisors LLC now owns 2,305 shares of the company’s stock valued at $235,000 after purchasing an additional 515 shares in the last quarter. Security Financial Services INC. raised its stake in iShares Convertible Bond ETF by 2.3% in the first quarter. Security Financial Services INC. now owns 5,470 shares of the company’s stock valued at $557,000 after purchasing an additional 123 shares in the last quarter. Mascagni Wealth Management Inc. raised its stake in iShares Convertible Bond ETF by 9.3% in the first quarter. Mascagni Wealth Management Inc. now owns 81,241 shares of the company’s stock valued at $8,270,000 after purchasing an additional 6,891 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in iShares Convertible Bond ETF in the first quarter valued at approximately $58,000.

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.