iShares Convertible Bond ETF (BATS:ICVT) Short Interest Down 80.3% in May

iShares Convertible Bond ETF (BATS:ICVT) was the recipient of a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 129,774 shares, a drop of 80.3% from the May 14th total of 657,266 shares. Based on an average trading volume of 798,421 shares, the short-interest ratio is currently 0.2 days. Currently, 0.5% of the shares of the company are sold short.

Institutional Investors Weigh In On iShares Convertible Bond ETF

Hedge funds have recently added to or reduced their stakes in the stock. Allianz Asset Management GmbH bought a new stake in iShares Convertible Bond ETF in the third quarter valued at $2,701,000. AMG National Trust Bank lifted its stake in iShares Convertible Bond ETF by 1.8% in the third quarter. AMG National Trust Bank now owns 496,267 shares of the company’s stock valued at $49,652,000 after buying an additional 8,715 shares during the last quarter. Cassilly Financial Group LLC bought a new stake in iShares Convertible Bond ETF in the fourth quarter valued at $824,000. Arete Wealth Advisors LLC lifted its stake in iShares Convertible Bond ETF by 328.4% in the third quarter. Arete Wealth Advisors LLC now owns 10,497 shares of the company’s stock valued at $1,051,000 after buying an additional 8,047 shares during the last quarter. Finally, Ascent Group LLC lifted its stake in iShares Convertible Bond ETF by 25.8% in the fourth quarter. Ascent Group LLC now owns 30,816 shares of the company’s stock valued at $3,035,000 after buying an additional 6,314 shares during the last quarter.

iShares Convertible Bond ETF Price Performance

Shares of BATS ICVT opened at $117.37 on Wednesday. The firm’s 50-day moving average price is $113.70 and its two-hundred day moving average price is $106.18. iShares Convertible Bond ETF has a 52-week low of $87.43 and a 52-week high of $124.22.

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.