iShares Select Dividend ETF (NASDAQ:DVY) Reaches New 12-Month High – Here’s Why

iShares Select Dividend ETF (NASDAQ:DVY)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $161.27 and last traded at $160.92, with a volume of 73534 shares trading hands. The stock had previously closed at $159.46.

iShares Select Dividend ETF Price Performance

The firm’s 50-day simple moving average is $155.48 and its 200 day simple moving average is $152.50. The firm has a market capitalization of $23.40 billion, a price-to-earnings ratio of 13.69 and a beta of 0.66.

iShares Select Dividend ETF Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 15th were paid a $1.2472 dividend. This represents a $4.99 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Monday, June 15th. This is a positive change from iShares Select Dividend ETF’s previous quarterly dividend of $1.15.

Hedge Funds Weigh In On iShares Select Dividend ETF

A number of institutional investors have recently modified their holdings of DVY. Northwestern Mutual Wealth Management Co. boosted its stake in shares of iShares Select Dividend ETF by 1,771.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,385,482 shares of the company’s stock valued at $901,247,000 after purchasing an additional 6,044,290 shares in the last quarter. Miller Howard Investments Inc. NY increased its position in iShares Select Dividend ETF by 745.9% during the 4th quarter. Miller Howard Investments Inc. NY now owns 505,689 shares of the company’s stock worth $71,373,000 after purchasing an additional 445,910 shares in the last quarter. Fifth Third Bancorp increased its position in iShares Select Dividend ETF by 178.6% during the 1st quarter. Fifth Third Bancorp now owns 645,684 shares of the company’s stock worth $97,763,000 after purchasing an additional 413,908 shares in the last quarter. Align Financial LLC acquired a new position in iShares Select Dividend ETF during the 4th quarter worth approximately $39,639,000. Finally, Bank of America Corp DE lifted its stake in 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 valued at $1,150,568,000 after purchasing an additional 256,434 shares during the last quarter. Institutional investors and hedge funds own 46.08% of the company’s stock.

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.