Edge Wealth Management LLC Decreases Stock Holdings in iShares Select Dividend ETF $DVY

Edge Wealth Management LLC lowered its position in shares of iShares Select Dividend ETF (NASDAQ:DVY) by 46.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 4,701 shares of the company’s stock after selling 4,011 shares during the quarter. Edge Wealth Management LLC’s holdings in iShares Select Dividend ETF were worth $735,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its position in shares of iShares Select Dividend ETF by 1,771.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,385,482 shares of the company’s stock valued at $901,247,000 after acquiring an additional 6,044,290 shares during the period. Fifth Third Bancorp boosted its holdings in shares of iShares Select Dividend ETF by 178.6% during the first quarter. Fifth Third Bancorp now owns 645,684 shares of the company’s stock worth $97,763,000 after purchasing an additional 413,908 shares during the period. Align Financial LLC purchased a new stake in shares of iShares Select Dividend ETF during the fourth quarter worth about $39,639,000. Morgan Stanley grew its stake in shares of iShares Select Dividend ETF by 3.6% in the fourth quarter. Morgan Stanley now owns 6,506,794 shares of the company’s stock worth $918,369,000 after purchasing an additional 224,125 shares during the last quarter. Finally, Corient Private Wealth LLC grew its stake in shares of iShares Select Dividend ETF by 236.4% in the fourth quarter. Corient Private Wealth LLC now owns 282,323 shares of the company’s stock worth $39,847,000 after purchasing an additional 198,397 shares during the last quarter. Institutional investors own 46.08% of the company’s stock.

iShares Select Dividend ETF Price Performance

NASDAQ:DVY traded down $0.94 during mid-day trading on Tuesday, reaching $163.31. 283,984 shares of the company’s stock traded hands, compared to its average volume of 456,829. The company has a 50 day moving average price of $162.29 and a 200-day moving average price of $156.50. The firm has a market capitalization of $23.79 billion, a price-to-earnings ratio of 13.69 and a beta of 0.66. iShares Select Dividend ETF has a 12-month low of $137.16 and a 12-month high of $167.06.

iShares Select Dividend ETF Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 15th were paid a dividend of $1.2472 per share. This represents a $4.99 annualized dividend and a dividend yield of 3.1%. This is a boost from iShares Select Dividend ETF’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Monday, June 15th.

About iShares Select Dividend ETF

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.