iShares Select Dividend ETF (NASDAQ:DVY) Hits New 52-Week High – Time to Buy?

Shares of iShares Select Dividend ETF (NASDAQ:DVY) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $158.91 and last traded at $157.6130, with a volume of 30082 shares changing hands. The stock had previously closed at $156.34.

iShares Select Dividend ETF Stock Performance

The stock has a 50-day moving average of $147.13 and a two-hundred day moving average of $142.74. The company has a market cap of $22.92 billion, a P/E ratio of 13.69 and a beta of 0.77.

iShares Select Dividend ETF Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Tuesday, December 16th were given a $1.6162 dividend. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $6.46 annualized dividend and a dividend yield of 4.1%. This is a boost from iShares Select Dividend ETF’s previous quarterly dividend of $1.25.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its position in 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 acquiring an additional 6,044,290 shares in the last quarter. Laurel Wealth Advisors LLC raised its stake in shares of 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. Miller Howard Investments Inc. NY boosted its position in shares of iShares Select Dividend ETF by 745.9% during the fourth quarter. Miller Howard Investments Inc. NY now owns 505,689 shares of the company’s stock valued at $71,373,000 after buying an additional 445,910 shares during the last quarter. Bank of America Corp DE increased its holdings 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 worth $1,150,568,000 after buying an additional 256,434 shares in the last quarter. Finally, Morgan Stanley raised its position in iShares Select Dividend ETF by 3.6% in the 4th quarter. Morgan Stanley now owns 6,506,794 shares of the company’s stock worth $918,369,000 after buying an additional 224,125 shares during 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.