Wetzel Investment Advisors Inc. Makes New $3.62 Million Investment in iShares Convertible Bond ETF (BATS:ICVT)

Wetzel Investment Advisors Inc. bought a new position in iShares Convertible Bond ETF (BATS:ICVT) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 46,095 shares of the company’s stock, valued at approximately $3,623,000. iShares Convertible Bond ETF makes up about 2.2% of Wetzel Investment Advisors Inc.’s portfolio, making the stock its 8th largest holding. Wetzel Investment Advisors Inc. owned 0.25% of iShares Convertible Bond ETF at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC grew its stake in iShares Convertible Bond ETF by 100.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 348 shares of the company’s stock worth $26,000 after acquiring an additional 174 shares in the last quarter. ICA Group Wealth Management LLC bought a new position in shares of iShares Convertible Bond ETF during the fourth quarter valued at approximately $31,000. Blue Trust Inc. boosted its stake in shares of iShares Convertible Bond ETF by 91.0% during the fourth quarter. Blue Trust Inc. now owns 466 shares of the company’s stock valued at $34,000 after purchasing an additional 222 shares in the last quarter. Resurgent Financial Advisors LLC bought a new position in shares of iShares Convertible Bond ETF during the fourth quarter valued at approximately $41,000. Finally, AdvisorNet Financial Inc boosted its stake in shares of iShares Convertible Bond ETF by 122.0% during the fourth quarter. AdvisorNet Financial Inc now owns 606 shares of the company’s stock valued at $48,000 after purchasing an additional 333 shares in the last quarter.

iShares Convertible Bond ETF Price Performance

Shares of BATS ICVT traded down $0.38 during midday trading on Friday, reaching $76.13. 235,431 shares of the company’s stock traded hands. iShares Convertible Bond ETF has a one year low of $50.43 and a one year high of $58.18. The stock’s 50 day simple moving average is $78.39 and its 200-day simple moving average is $76.32.

iShares Convertible Bond ETF Increases Dividend

The company also recently announced a dividend, which was paid on Friday, April 5th. Shareholders of record on Tuesday, April 2nd were paid a $0.1346 dividend. This is an increase from iShares Convertible Bond ETF’s previous dividend of $0.12. The ex-dividend date of this dividend was Monday, April 1st.

iShares Convertible Bond ETF 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.