Maridea Wealth Management LLC Invests $739,000 in iShares Select Dividend ETF $DVY

Maridea Wealth Management LLC acquired a new position in iShares Select Dividend ETF (NASDAQ:DVY) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,728 shares of the company’s stock, valued at approximately $739,000.

Several other institutional investors have also added to or reduced their stakes in DVY. Fort Sheridan Advisors LLC purchased a new stake in iShares Select Dividend ETF during the second quarter valued at about $219,000. Stonebridge Advisors LLC purchased a new position in shares of iShares Select Dividend ETF in the second quarter worth about $553,074,000. Janney Montgomery Scott LLC raised its position in shares of iShares Select Dividend ETF by 0.6% in the second quarter. Janney Montgomery Scott LLC now owns 240,143 shares of the company’s stock valued at $37,534,000 after purchasing an additional 1,362 shares during the period. Fifth Third Bancorp raised its position in shares of iShares Select Dividend ETF by 2.1% in the second quarter. Fifth Third Bancorp now owns 658,941 shares of the company’s stock valued at $102,992,000 after purchasing an additional 13,257 shares during the period. Finally, McAdam LLC purchased a new stake in shares of iShares Select Dividend ETF during the 2nd quarter valued at approximately $314,000. 46.08% of the stock is owned by hedge funds and other institutional investors.

iShares Select Dividend ETF Trading Up 0.4%

Shares of DVY stock opened at $165.50 on Friday. The firm’s 50 day moving average is $159.47 and its 200 day moving average is $155.25. The stock has a market capitalization of $24.11 billion, a P/E ratio of 13.69 and a beta of 0.66. iShares Select Dividend ETF has a 12 month low of $137.16 and a 12 month high of $166.79.

iShares Select Dividend ETF Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 15th were issued 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 a positive change from iShares Select Dividend ETF’s previous quarterly dividend of $1.15.

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.