Northwestern Mutual Wealth Management Co. Cuts Stake in iShares Select Dividend ETF $DVY

Northwestern Mutual Wealth Management Co. cut its holdings in shares of iShares Select Dividend ETF (NASDAQ:DVY) by 27.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 299,005 shares of the company’s stock after selling 113,586 shares during the quarter. Northwestern Mutual Wealth Management Co. owned 0.21% of iShares Select Dividend ETF worth $46,735,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Caitlin John LLC purchased a new stake in shares of iShares Select Dividend ETF during the fourth quarter worth $25,000. Miller Capital Partners Inc. purchased a new position in iShares Select Dividend ETF in the fourth quarter valued at $30,000. Main Street Group LTD purchased a new position in iShares Select Dividend ETF in the first quarter valued at $33,000. Qube Research & Technologies Ltd acquired a new position in iShares Select Dividend ETF during the 2nd quarter worth $34,000. Finally, Jessup Wealth Management Inc acquired a new position in iShares Select Dividend ETF during the 4th quarter worth $38,000. 46.08% of the stock is currently owned by institutional investors and hedge funds.

iShares Select Dividend ETF Price Performance

Shares of NASDAQ DVY opened at $162.81 on Wednesday. The stock’s 50-day moving average is $161.58 and its two-hundred day moving average is $156.25. iShares Select Dividend ETF has a 1-year low of $137.16 and a 1-year high of $167.06. The company has a market cap of $23.71 billion, a price-to-earnings ratio of 13.69 and a beta of 0.66.

iShares Select Dividend ETF Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 15th were given a dividend of $1.2472 per share. This is a boost from iShares Select Dividend ETF’s previous quarterly dividend of $1.15. This represents a $4.99 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Monday, June 15th.

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.