Grassi Investment Management Trims Stake in iShares Select Dividend ETF $DVY

Grassi Investment Management trimmed its holdings in shares of iShares Select Dividend ETF (NASDAQ:DVY) by 4.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,167 shares of the company’s stock after selling 161 shares during the quarter. Grassi Investment Management’s holdings in iShares Select Dividend ETF were worth $421,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. purchased a new position in shares of iShares Select Dividend ETF during the first quarter worth about $30,000. IMA Advisory Services Inc. purchased a new position in shares of iShares Select Dividend ETF during the first quarter worth about $34,000. Cypress Capital Management LLC WY purchased a new position in shares of iShares Select Dividend ETF during the first quarter worth about $35,000. First Pacific Financial purchased a new position in iShares Select Dividend ETF in the 1st quarter worth approximately $40,000. Finally, IAG Wealth Partners LLC purchased a new position in iShares Select Dividend ETF in the 1st quarter worth approximately $54,000. 46.08% of the stock is currently owned by hedge funds and other institutional investors.

iShares Select Dividend ETF Price Performance

DVY stock opened at $143.11 on Friday. iShares Select Dividend ETF has a one year low of $115.94 and a one year high of $144.09. The stock has a market cap of $21.04 billion, a PE ratio of 13.69 and a beta of 0.87. The firm has a 50 day simple moving average of $139.64 and a two-hundred day simple moving average of $134.00.

iShares Select Dividend ETF Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Tuesday, September 16th were given a $1.2465 dividend. This represents a $4.99 annualized dividend and a yield of 3.5%. This is a boost from iShares Select Dividend ETF’s previous quarterly dividend of $1.23. The ex-dividend date was Tuesday, September 16th.

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.