HighTower Advisors LLC Trims Stock Position in iShares Select Dividend ETF $DVY

HighTower Advisors LLC cut its holdings in iShares Select Dividend ETF (NASDAQ:DVY) by 1.7% during the 2nd quarter, Holdings Channel reports. The firm owned 325,885 shares of the company’s stock after selling 5,596 shares during the period. HighTower Advisors LLC’s holdings in iShares Select Dividend ETF were worth $50,936,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of DVY. Caitlin John LLC acquired a new position in shares of iShares Select Dividend ETF during the 4th quarter worth approximately $25,000. Miller Capital Partners Inc. acquired a new stake in iShares Select Dividend ETF during the 4th quarter valued at $30,000. Main Street Group LTD purchased a new position in iShares Select Dividend ETF during the first quarter worth $33,000. Qube Research & Technologies Ltd acquired a new position in shares of iShares Select Dividend ETF in the second quarter worth $34,000. Finally, Jessup Wealth Management Inc acquired a new position in shares of iShares Select Dividend ETF in the fourth quarter worth $38,000. 46.08% of the stock is owned by hedge funds and other institutional investors.

iShares Select Dividend ETF Price Performance

Shares of NASDAQ:DVY opened at $164.25 on Tuesday. The company has a market capitalization of $23.92 billion, a P/E ratio of 13.69 and a beta of 0.66. iShares Select Dividend ETF has a 52-week low of $137.16 and a 52-week high of $167.06. The stock’s fifty day simple moving average is $162.15 and its 200-day simple moving average is $156.45.

iShares Select Dividend ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 15th were paid a $1.2472 dividend. This represents a $4.99 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Monday, June 15th. This is a positive change 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.