Cornerstone Management Inc. Has $4.62 Million Position in iShares Select Dividend ETF $DVY

Cornerstone Management Inc. reduced its stake in shares of iShares Select Dividend ETF (NASDAQ:DVY) by 0.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,753 shares of the company’s stock after selling 293 shares during the quarter. iShares Select Dividend ETF accounts for 0.8% of Cornerstone Management Inc.’s portfolio, making the stock its 20th largest position. Cornerstone Management Inc.’s holdings in iShares Select Dividend ETF were worth $4,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of DVY. Financial Gravity Asset Management Inc. acquired a new position in iShares Select Dividend ETF during the first quarter worth $30,000. IMA Advisory Services Inc. acquired a new position in iShares Select Dividend ETF during the first quarter worth $34,000. Cypress Capital Management LLC WY acquired a new position in iShares Select Dividend ETF during the first quarter worth $35,000. First Pacific Financial acquired a new position in iShares Select Dividend ETF during the first quarter worth $40,000. Finally, Rossby Financial LCC acquired a new position in iShares Select Dividend ETF during the first quarter worth $60,000. 46.08% of the stock is currently owned by institutional investors and hedge funds.

iShares Select Dividend ETF Stock Performance

Shares of NASDAQ:DVY opened at $141.43 on Friday. iShares Select Dividend ETF has a twelve month low of $115.94 and a twelve month high of $144.09. The firm has a market cap of $20.73 billion, a PE ratio of 13.69 and a beta of 0.87. The business has a fifty day moving average of $140.94 and a 200-day moving average of $134.89.

iShares Select Dividend ETF Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Tuesday, September 16th were paid a $1.2465 dividend. This represents a $4.99 dividend on an annualized basis and a dividend yield of 3.5%. This is a boost from iShares Select Dividend ETF’s previous quarterly dividend of $1.23. The ex-dividend date was Tuesday, September 16th.

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.