iShares Select Dividend ETF (NASDAQ:DVY) Reaches New 12-Month High – Should You Buy?

iShares Select Dividend ETF (NASDAQ:DVY)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $165.86 and last traded at $165.86, with a volume of 26712 shares trading hands. The stock had previously closed at $163.27.

iShares Select Dividend ETF Stock Up 2.1%

The firm has a market cap of $24.27 billion, a price-to-earnings ratio of 13.69 and a beta of 0.66. The stock’s 50 day moving average is $157.15 and its 200 day moving average is $153.71.

iShares Select Dividend ETF Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 15th were paid a dividend of $1.2472 per share. This represents a $4.99 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Monday, June 15th. This is an increase from iShares Select Dividend ETF’s previous quarterly dividend of $1.15.

Institutional Trading of iShares Select Dividend ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its stake in 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 valued at $901,247,000 after buying an additional 6,044,290 shares in the last quarter. Miller Howard Investments Inc. NY raised its position in iShares Select Dividend ETF by 745.9% in the fourth quarter. Miller Howard Investments Inc. NY now owns 505,689 shares of the company’s stock worth $71,373,000 after acquiring an additional 445,910 shares in the last quarter. Fifth Third Bancorp lifted its holdings in iShares Select Dividend ETF by 178.6% in the 1st quarter. Fifth Third Bancorp now owns 645,684 shares of the company’s stock valued at $97,763,000 after acquiring an additional 413,908 shares during the last quarter. Align Financial LLC acquired a new stake in iShares Select Dividend ETF in the 4th quarter valued at about $39,639,000. Finally, Morgan Stanley boosted its position in shares of iShares Select Dividend ETF by 3.6% during the 4th quarter. Morgan Stanley now owns 6,506,794 shares of the company’s stock valued at $918,369,000 after purchasing an additional 224,125 shares in the last quarter. Institutional investors own 46.08% of the company’s stock.

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.