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

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

iShares Convertible Bond ETF Price Performance

The stock has a 50-day moving average price of $86.27 and a two-hundred day moving average price of $82.16.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Brookstone Capital Management increased its stake in shares of iShares Convertible Bond ETF by 10.4% during the second quarter. Brookstone Capital Management now owns 7,146 shares of the company’s stock worth $576,000 after acquiring an additional 673 shares during the period. Milestone Asset Management LLC acquired a new stake in shares of iShares Convertible Bond ETF in the 2nd quarter valued at approximately $456,000. First Horizon Advisors Inc. lifted its holdings in shares of iShares Convertible Bond ETF by 48.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,221 shares of the company’s stock valued at $96,000 after buying an additional 397 shares during the period. Onyx Bridge Wealth Group LLC purchased a new stake in shares of iShares Convertible Bond ETF in the second quarter valued at approximately $4,265,000. Finally, Horst & Graben Wealth Management LLC grew its holdings in iShares Convertible Bond ETF by 1.3% during the second quarter. Horst & Graben Wealth Management LLC now owns 11,977 shares of the company’s stock worth $942,000 after acquiring an additional 153 shares during the period.

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.