Redmont Wealth Advisors LLC Invests $2.01 Million in iShares Select Dividend ETF $DVY

Redmont Wealth Advisors LLC acquired a new stake in shares of iShares Select Dividend ETF (NASDAQ:DVY) during the third quarter, Holdings Channel reports. The firm acquired 14,111 shares of the company’s stock, valued at approximately $2,005,000. iShares Select Dividend ETF comprises 2.8% of Redmont Wealth Advisors LLC’s investment portfolio, making the stock its 7th largest holding.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Parvin Asset Management LLC acquired a new position in shares of iShares Select Dividend ETF during the 2nd quarter valued at $27,000. Financial Gravity Companies Inc. acquired a new position in shares of iShares Select Dividend ETF in the 2nd quarter worth approximately $29,000. Total Investment Management Inc. bought a new stake in shares of iShares Select Dividend ETF in the 2nd quarter worth approximately $29,000. Kilter Group LLC acquired a new stake in iShares Select Dividend ETF during the second quarter valued at approximately $31,000. Finally, Qube Research & Technologies Ltd bought a new stake in iShares Select Dividend ETF during the second quarter worth approximately $34,000. 46.08% of the stock is currently owned by institutional investors and hedge funds.

iShares Select Dividend ETF Stock Performance

Shares of NASDAQ:DVY opened at $156.48 on Thursday. The stock has a fifty day moving average of $147.71 and a 200-day moving average of $143.00. The company has a market capitalization of $22.82 billion, a PE ratio of 13.69 and a beta of 0.77. iShares Select Dividend ETF has a one year low of $115.94 and a one year high of $160.38.

iShares Select Dividend ETF Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Tuesday, December 16th were paid a dividend of $1.6162 per share. This is a boost from iShares Select Dividend ETF’s previous quarterly dividend of $1.25. This represents a $6.46 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Tuesday, December 16th.

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.