iShares Select Dividend ETF (NASDAQ:DVY) Hits New 1-Year High – What’s Next?

iShares Select Dividend ETF (NASDAQ:DVY) reached a new 52-week high during 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 Stock Up 0.5%

The company has a market cap of $23.53 billion, a price-to-earnings ratio of 13.69 and a beta of 0.66. The firm has a 50 day moving average price of $155.28 and a two-hundred day moving average price of $152.25.

iShares Select Dividend ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 15th were given a dividend of $1.2472 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $4.99 dividend on an annualized basis and a yield of 3.1%. This is a boost from iShares Select Dividend ETF’s previous quarterly dividend of $1.15.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE increased its position in shares of iShares Select Dividend ETF by 3.3% during the third 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 period. Morgan Stanley lifted its holdings in iShares Select Dividend ETF by 3.6% in the fourth quarter. Morgan Stanley now owns 6,506,794 shares of the company’s stock valued at $918,369,000 after buying an additional 224,125 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in iShares Select Dividend ETF by 1,771.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,385,482 shares of the company’s stock valued at $901,247,000 after buying an additional 6,044,290 shares during the period. Wells Fargo & Company MN boosted its position in iShares Select Dividend ETF by 1.9% during the fourth quarter. Wells Fargo & Company MN now owns 3,807,955 shares of the company’s stock valued at $537,455,000 after acquiring an additional 69,658 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in iShares Select Dividend ETF by 3.9% during the fourth quarter. Royal Bank of Canada now owns 3,073,777 shares of the company’s stock valued at $433,832,000 after acquiring an additional 114,490 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.