iShares Convertible Bond ETF (BATS:ICVT) Sets New 52-Week High – Still a Buy?

Shares of iShares Convertible Bond ETF (BATS:ICVT) hit a new 52-week high during trading on Thursday . The stock traded as high as $86.18 and last traded at $86.39, with a volume of 338203 shares traded. The stock had previously closed at $85.13.

iShares Convertible Bond ETF Stock Performance

The stock’s 50 day simple moving average is $87.09 and its two-hundred day simple moving average is $83.45.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ICVT. Susquehanna International Group LLP acquired a new stake in iShares Convertible Bond ETF during the second quarter worth about $80,458,000. 1832 Asset Management L.P. increased its position in iShares Convertible Bond ETF by 162.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 729,587 shares of the company’s stock worth $57,367,000 after purchasing an additional 452,039 shares in the last quarter. Certified Advisory Corp purchased a new position in iShares Convertible Bond ETF in the second quarter valued at approximately $12,818,000. Assetmark Inc. lifted its position in 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 in the last quarter. Finally, Insight Wealth Strategies LLC purchased a new stake in iShares Convertible Bond ETF during the fourth quarter worth approximately $10,815,000.

iShares Convertible Bond ETF Company Profile

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.