MV Capital Management Inc. Invests $4.70 Million in iShares Select Dividend ETF $DVY

MV Capital Management Inc. acquired a new position in shares of iShares Select Dividend ETF (NASDAQ:DVY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 33,307 shares of the company’s stock, valued at approximately $4,701,000.

Several other hedge funds have also recently added to or reduced their stakes in DVY. Bank of America Corp DE boosted its position in shares of iShares Select Dividend ETF by 3.3% in the third quarter. Bank of America Corp DE now owns 8,096,893 shares of the company’s stock valued at $1,150,568,000 after acquiring an additional 256,434 shares during the period. Morgan Stanley increased its position in iShares Select Dividend ETF by 3.6% during the fourth quarter. Morgan Stanley now owns 6,506,794 shares of the company’s stock worth $918,369,000 after acquiring an additional 224,125 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in iShares Select Dividend ETF by 1,771.5% during 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 during the last quarter. Wells Fargo & Company MN raised its stake in iShares Select Dividend ETF by 1.9% during the 4th quarter. Wells Fargo & Company MN now owns 3,807,955 shares of the company’s stock valued at $537,455,000 after purchasing an additional 69,658 shares during the last quarter. Finally, Royal Bank of Canada boosted its holdings in iShares Select Dividend ETF by 3.9% in the 4th quarter. Royal Bank of Canada now owns 3,073,777 shares of the company’s stock valued at $433,832,000 after purchasing an additional 114,490 shares during the period. Institutional investors own 46.08% of the company’s stock.

iShares Select Dividend ETF Price Performance

Shares of iShares Select Dividend ETF stock opened at $153.30 on Friday. The company has a market cap of $22.55 billion, a PE ratio of 13.69 and a beta of 0.66. The firm has a fifty day moving average price of $153.80 and a two-hundred day moving average price of $150.56. iShares Select Dividend ETF has a fifty-two week low of $129.94 and a fifty-two week high of $160.38.

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 an increase 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 3.3%. The ex-dividend date of this dividend was Monday, June 15th.

iShares Select Dividend ETF 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.