iShares Convertible Bond ETF (BATS:ICVT) Sees Large Growth in Short Interest

iShares Convertible Bond ETF (BATS:ICVT) was the target of a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 846,838 shares, an increase of 156.7% from the June 15th total of 329,902 shares. Based on an average daily volume of 700,512 shares, the short-interest ratio is presently 1.2 days. Approximately 3.0% of the company’s stock are short sold.

iShares Convertible Bond ETF Trading Down 0.5%

Shares of BATS:ICVT opened at $116.00 on Thursday. iShares Convertible Bond ETF has a 1 year low of $90.77 and a 1 year high of $126.56. The firm has a fifty day moving average price of $119.23 and a 200 day moving average price of $109.93.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its position in iShares Convertible Bond ETF by 3.2% during the third quarter. Bank of America Corp DE now owns 2,647,316 shares of the company’s stock worth $264,864,000 after purchasing an additional 82,318 shares during the period. LPL Financial LLC raised its position in shares of iShares Convertible Bond ETF by 20.2% in the fourth quarter. LPL Financial LLC now owns 1,035,083 shares of the company’s stock valued at $101,956,000 after purchasing an additional 174,077 shares during the period. AMG National Trust Bank raised its position in shares of iShares Convertible Bond ETF by 7.4% in the first quarter. AMG National Trust Bank now owns 565,061 shares of the company’s stock valued at $57,518,000 after purchasing an additional 39,016 shares during the period. Greenleaf Trust lifted its stake in shares of iShares Convertible Bond ETF by 0.8% in the fourth quarter. Greenleaf Trust now owns 451,146 shares of the company’s stock worth $44,438,000 after buying an additional 3,596 shares during the last quarter. Finally, Ocean Park Asset Management LLC acquired a new stake in shares of iShares Convertible Bond ETF in the first quarter worth $42,772,000.

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. ICVT was launched on Jun 2, 2015 and is managed by BlackRock.