JPMorgan Chase & Co. has significantly reduced its investment in the iShares Convertible Bond ETF (BATS:ICVT), selling 91,502 shares during the second quarter of 2023. This move represents a 32.6% decrease, leaving the firm with a total of 189,271 shares of the fund. As of the end of the most recent quarter, JPMorgan’s holdings in the ETF were valued at approximately $17,053,000, equating to 0.68% of the total shares.
Several other investment firms have also adjusted their positions in the iShares Convertible Bond ETF recently. Wealth Preservation Advisors LLC established a new position in the fund during the first quarter, valued at around $29,000. Cape Investment Advisory Inc. increased its stake by an impressive 171.0%, now owning 355 shares worth approximately $30,000 after acquiring an additional 224 shares.
In addition, Anderson Financial Strategies LLC also secured a new position valued at around $39,000 during the same period. Other noteworthy adjustments include Private Wealth Asset Management LLC, which bought shares worth about $48,000 in the second quarter, and Vermillion & White Wealth Management Group LLC, which enhanced its holdings by an impressive 537.6% during the first quarter. The latter now owns 746 shares worth approximately $62,000 after acquiring an additional 629 shares.
iShares Convertible Bond ETF Performance Insights
As of the latest trading session, the iShares Convertible Bond ETF opened at $99.99. The fund has demonstrated a fifty-day simple moving average of $100.87 and a two-hundred-day simple moving average of $95.02. Over the past year, the ETF has experienced a low of $75.97 and a high of $93.29, reflecting the current market dynamics.
The iShares Convertible Bond ETF primarily invests in broad credit fixed-income securities. It tracks an index of USD-denominated convertible bonds that are weighted by market value. Notably, the index includes only cash-pay convertibles while excluding mandatory and preferred convertibles, providing a targeted investment approach for those interested in this segment of the market.
For those interested in the latest movements in hedge fund holdings for the iShares Convertible Bond ETF, further insights can be found on financial platforms that track 13F filings and insider trades. Additionally, investors can subscribe to daily summaries and ratings for the ETF and related companies to stay informed about market trends and opportunities.
