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

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

iShares Convertible Bond ETF Trading Up 1.5 %

The firm has a 50-day simple moving average of $87.07 and a 200-day simple moving average of $83.37.

Institutional Investors Weigh In On iShares Convertible Bond ETF

A number of institutional investors have recently added to or reduced their stakes in ICVT. Envestnet Asset Management Inc. lifted its position in shares of iShares Convertible Bond ETF by 14.5% during the second quarter. Envestnet Asset Management Inc. now owns 1,094,735 shares of the company’s stock valued at $86,079,000 after buying an additional 138,493 shares during the last quarter. Susquehanna International Group LLP bought a new position in shares of iShares Convertible Bond ETF during the 2nd quarter worth approximately $80,458,000. 1832 Asset Management L.P. lifted its position in iShares Convertible Bond ETF by 162.9% during the second quarter. 1832 Asset Management L.P. now owns 729,587 shares of the company’s stock valued at $57,367,000 after acquiring an additional 452,039 shares during the last quarter. Advisory Alpha LLC boosted its stake 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 acquiring an additional 7,855 shares in the last quarter. Finally, Greenleaf Trust grew its holdings in iShares Convertible Bond ETF by 4.2% in the third quarter. Greenleaf Trust now owns 419,049 shares of the company’s stock worth $35,062,000 after purchasing an additional 16,894 shares during the last quarter.

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.