iShares Select Dividend ETF (NASDAQ:DVY) Reaches New 52-Week High – What’s Next?

iShares Select Dividend ETF (NASDAQ:DVY) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $145.14 and last traded at $145.0840, with a volume of 1864590 shares changing hands. The stock had previously closed at $143.60.

iShares Select Dividend ETF Stock Up 1.0%

The stock has a market capitalization of $21.52 billion, a P/E ratio of 13.69 and a beta of 0.77. The company has a fifty day moving average price of $141.35 and a 200-day moving average price of $139.56.

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 $1.6162 dividend. This represents a $6.46 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Tuesday, December 16th. This is a positive change from iShares Select Dividend ETF’s previous quarterly dividend of $1.25.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Laurel Wealth Advisors LLC increased its position in iShares Select Dividend ETF by 13,158.9% in the second quarter. Laurel Wealth Advisors LLC now owns 1,897,610 shares of the company’s stock worth $252,022,000 after purchasing an additional 1,883,298 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of iShares Select Dividend ETF in the 2nd quarter worth $178,925,000. Bank of America Corp DE increased its holdings in shares of iShares Select Dividend ETF by 3.3% in the 3rd quarter. Bank of America Corp DE now owns 8,096,893 shares of the company’s stock worth $1,150,568,000 after buying an additional 256,434 shares during the last quarter. Orion Porfolio Solutions LLC increased its holdings in shares of iShares Select Dividend ETF by 526.0% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 181,391 shares of the company’s stock worth $24,091,000 after buying an additional 152,417 shares during the last quarter. Finally, UBS Group AG raised its position in shares of iShares Select Dividend ETF by 10.0% during the 3rd quarter. UBS Group AG now owns 1,155,033 shares of the company’s stock valued at $164,130,000 after buying an additional 104,866 shares in the last quarter. 46.08% of the stock is currently owned by institutional investors.

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.