iShares Convertible Bond ETF Reaches New 12-Month High Post-Dividend Announcement

The iShares Convertible Bond ETF (BATS:ICVT) achieved a new 52-week high on Monday after the company disclosed its latest dividend announcement. The stock reached a high of $86.18 and closed at $86.66, with a trading volume of 338,203 shares. The previous close was noted at $85.13.

The announced dividend is set to be paid on Thursday, February 6th. Shareholders recorded on Monday, February 3rd, will receive a dividend of $0.1406 per share. The ex-dividend date is also scheduled for Monday, February 3rd.

iShares Convertible Bond ETF Price Trends

The ETF has shown notable price movements with a 50-day moving average of $87.16 alongside a 200-day moving average of $84.14.

Institutional Investment Activity

Several institutional investors and hedge funds have recently made adjustments to their holdings in the iShares Convertible Bond ETF. For instance, PSI Advisors LLC purchased a new stake in the ETF during the fourth quarter, valued at approximately $29,000. Spire Wealth Management increased its ownership by 56.9% during the same period and now holds 452 shares worth about $38,000 after acquiring an additional 164 shares. Meanwhile, LGT Financial Advisors LLC also expanded its investment by 45.3%, holding 526 shares valued at $44,000 after a recent purchase.

Endeavor Private Wealth Inc. secured a new position in the fourth quarter valued at around $45,000, while Elevation Wealth Partners LLC increased its stake by 42.6%, owning 897 shares now valued at $76,000 after buying an extra 268 shares.

About iShares Convertible Bond ETF

The iShares Convertible Bond ETF (ICVT) is designed to provide investors with exposure to a variety of USD-denominated convertible bonds, primarily focusing on broad credit fixed income. The fund tracks an index that comprises cash-pay convertible bonds, excluding any mandatory and preferred convertibles.

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ETF, Dividend, Investing