iShares Select Dividend ETF (NASDAQ:DVY) Hits New 52-Week High – Here’s Why

iShares Select Dividend ETF (NASDAQ:DVY) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $166.90 and last traded at $166.74, with a volume of 47333 shares traded. The stock had previously closed at $164.95.

iShares Select Dividend ETF Stock Performance

The company has a 50 day simple moving average of $160.20 and a two-hundred day simple moving average of $155.71. The firm has a market cap of $23.94 billion, a PE ratio of 13.69 and a beta of 0.66.

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 issued a dividend of $1.2472 per share. This represents a $4.99 dividend on an annualized basis and a dividend yield of 3.0%. This is a positive change from iShares Select Dividend ETF’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Monday, June 15th.

Hedge Funds Weigh In On iShares Select Dividend ETF

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. raised 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 purchasing an additional 6,044,290 shares during the last quarter. Fifth Third Bancorp boosted its holdings in iShares Select Dividend ETF by 178.6% in the first quarter. Fifth Third Bancorp now owns 645,684 shares of the company’s stock valued at $97,763,000 after purchasing an additional 413,908 shares during the last quarter. Align Financial LLC purchased a new stake in iShares Select Dividend ETF in the fourth quarter valued at $39,639,000. Morgan Stanley grew 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 purchasing an additional 224,125 shares during the period. Finally, Corient Private Wealth LLC grew 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 purchasing an additional 198,397 shares during the period. Institutional investors and hedge funds own 46.08% of the company’s stock.

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.