iShares Select Dividend ETF (NASDAQ:DVY) Sees Large Decrease in Short Interest

iShares Select Dividend ETF (NASDAQ:DVY) saw a significant decline in short interest during the month of March. As of March 13th, there was short interest totaling 865,888 shares, a decline of 30.3% from the February 26th total of 1,242,436 shares. Based on an average daily volume of 483,545 shares, the short-interest ratio is currently 1.8 days. Currently, 0.6% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Caitlin John LLC bought a new stake in iShares Select Dividend ETF during the fourth quarter worth approximately $25,000. Elevated Capital Advisors LLC purchased a new position in shares of iShares Select Dividend ETF in the 4th quarter worth approximately $26,000. Parvin Asset Management LLC bought a new position in shares of iShares Select Dividend ETF during the 2nd quarter valued at approximately $27,000. Ransom Advisory Ltd bought a new position in shares of iShares Select Dividend ETF during the 4th quarter valued at approximately $27,000. Finally, Total Investment Management Inc. purchased a new stake in iShares Select Dividend ETF during the 2nd quarter valued at $29,000. Hedge funds and other institutional investors own 46.08% of the company’s stock.

iShares Select Dividend ETF Stock Performance

DVY stock traded down $0.52 during trading on Friday, hitting $149.50. 339,775 shares of the company’s stock traded hands, compared to its average volume of 559,317. iShares Select Dividend ETF has a 52 week low of $115.94 and a 52 week high of $160.38. The business has a fifty day simple moving average of $152.37 and a 200 day simple moving average of $145.40. The stock has a market capitalization of $21.80 billion, a price-to-earnings ratio of 13.69 and a beta of 0.77.

iShares Select Dividend ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Tuesday, March 17th were given a dividend of $1.1493 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Tuesday, March 17th.

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.