iShares Convertible Bond ETF Sees Significant Inflow This Week
ICVT Experiences $116.8 Million Increase in Outstanding Units
Looking at this week’s changes in exchange-traded funds (ETFs), the iShares Convertible Bond ETF (Symbol: ICVT) stands out with an inflow of approximately $116.8 million. This marks a 5.0% week-over-week increase in the number of outstanding units, rising from 26,900,000 to 28,250,000.
The chart above illustrates ICVT’s price performance over the past year compared to its 200-day moving average. ICVT’s 52-week low is $73.40 per share, while its 52-week high reached $87.6699. As of the last trade, the price stood at $86.67. Analyzing the share price in relation to the 200-day moving average can provide useful insights for investors—learn more about the 200-day moving average here.
It’s important to note that ETFs function similarly to stocks but involve trading “units” instead of “shares.” These units can be created or destroyed based on investor demand, enabling flexibility in trading. Weekly, we track changes in outstanding units to identify ETFs with significant inflows—indicating many new units created—or outflows—indicating many units removed. The creation of new units typically requires the purchase of the ETF’s underlying assets, while the destruction of units entails selling those holdings. Thus, large inflows or outflows can influence the individual assets within these ETFs.
Click here to find out which 9 other ETFs had notable inflows »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
