iShares Convertible Bond ETF (BATS:ICVT) Hits New 1-Year High – Time to Buy?

Shares of iShares Convertible Bond ETF (BATS:ICVT) hit a new 52-week high on Tuesday . The stock traded as high as $86.18 and last traded at $87.03, with a volume of 338203 shares trading hands. The stock had previously closed at $85.13.

iShares Convertible Bond ETF Price Performance

The company has a 50-day simple moving average of $87.20 and a two-hundred day simple moving average of $83.88.

Institutional Trading of iShares Convertible Bond ETF

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Greenleaf Trust lifted its position in iShares Convertible Bond ETF by 2.7% in the fourth quarter. Greenleaf Trust now owns 430,412 shares of the company’s stock valued at $36,572,000 after purchasing an additional 11,363 shares during the last quarter. Advisory Alpha LLC lifted its position in iShares Convertible Bond ETF by 1.9% in the second quarter. Advisory Alpha LLC now owns 428,286 shares of the company’s stock valued at $33,682,000 after purchasing an additional 7,855 shares during the last quarter. Lebenthal Global Advisors LLC increased its stake in shares of iShares Convertible Bond ETF by 83.6% during the fourth quarter. Lebenthal Global Advisors LLC now owns 418,271 shares of the company’s stock valued at $35,540,000 after buying an additional 190,400 shares during the period. Assetmark Inc. increased its stake in shares of iShares Convertible Bond ETF by 150.4% during the third quarter. Assetmark Inc. now owns 254,643 shares of the company’s stock valued at $21,306,000 after buying an additional 152,939 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of iShares Convertible Bond ETF by 32.6% during the third quarter. JPMorgan Chase & Co. now owns 228,239 shares of the company’s stock valued at $19,097,000 after buying an additional 56,149 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.