Cornerstone Advisors Asset Management LLC Lowers Stake in iShares Select Dividend ETF $DVY

Cornerstone Advisors Asset Management LLC cut its holdings in iShares Select Dividend ETF (NASDAQ:DVY) by 8.1% during the second quarter, HoldingsChannel reports. The firm owned 39,604 shares of the company’s stock after selling 3,473 shares during the period. iShares Select Dividend ETF comprises about 0.8% of Cornerstone Advisors Asset Management LLC’s investment portfolio, making the stock its 25th biggest holding. Cornerstone Advisors Asset Management LLC’s holdings in iShares Select Dividend ETF were worth $6,190,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Northwestern Mutual Wealth Management Co. grew its holdings in shares of iShares Select Dividend ETF by 1,771.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,385,482 shares of the company’s stock worth $901,247,000 after buying an additional 6,044,290 shares during the last quarter. Fifth Third Bancorp raised its stake in iShares Select Dividend ETF by 178.6% during the 1st quarter. Fifth Third Bancorp now owns 645,684 shares of the company’s stock valued at $97,763,000 after acquiring an additional 413,908 shares during the last quarter. Align Financial LLC acquired a new stake in iShares Select Dividend ETF during the 4th quarter worth approximately $39,639,000. Morgan Stanley lifted its position in iShares Select Dividend ETF by 3.6% during the 4th quarter. Morgan Stanley now owns 6,506,794 shares of the company’s stock worth $918,369,000 after acquiring an additional 224,125 shares during the period. Finally, Corient Private Wealth LLC lifted its position in iShares Select Dividend ETF by 236.4% during the 4th quarter. Corient Private Wealth LLC now owns 282,323 shares of the company’s stock worth $39,847,000 after acquiring an additional 198,397 shares during the period. 46.08% of the stock is owned by hedge funds and other institutional investors.

iShares Select Dividend ETF Trading Down 0.4%

NASDAQ:DVY opened at $164.25 on Friday. iShares Select Dividend ETF has a 12-month low of $137.16 and a 12-month high of $167.06. The stock’s 50 day simple moving average is $162.03 and its 200-day simple moving average is $156.41. The firm has a market cap of $23.92 billion, a P/E ratio of 13.69 and a beta of 0.66.

iShares Select Dividend ETF Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 15th were given a dividend of $1.2472 per share. This represents a $4.99 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Monday, June 15th. This is an increase from iShares Select Dividend ETF’s previous quarterly dividend of $1.15.

iShares Select Dividend ETF Company Profile

iShares Select Dividend ETF, formerly iShares Dow Jones Select Dividend Index Fund (the Fund), is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield performance of the Dow Jones U.S. Select Dividend Index (the Index). The Index measures the performance of a selected group of equity securities issued by companies that have provided relatively high dividend yields on a consistent basis over time. The Index consists of 100 of the highest dividend-yielding securities (excluding real estate investment trusts (REITs) in the Dow Jones U.S.