iShares Select Dividend ETF (NASDAQ:DVY) Reaches New 1-Year High – Still a Buy?

Shares of iShares Select Dividend ETF (NASDAQ:DVY) hit a new 52-week high on Wednesday . The company traded as high as $148.21 and last traded at $148.1950, with a volume of 151726 shares changing hands. The stock had previously closed at $146.24.

iShares Select Dividend ETF Price Performance

The company has a market cap of $21.73 billion, a price-to-earnings ratio of 13.69 and a beta of 0.77. The firm’s 50-day moving average price is $143.00 and its 200-day moving average price is $140.65.

iShares Select Dividend ETF Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Tuesday, December 16th were paid a dividend of $1.6162 per share. This is a boost from iShares Select Dividend ETF’s previous quarterly dividend of $1.25. This represents a $6.46 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Tuesday, December 16th.

Institutional Investors Weigh In On iShares Select Dividend ETF

Several hedge funds have recently modified their holdings of the stock. First Horizon Corp bought a new stake in iShares Select Dividend ETF during the 3rd quarter worth about $1,585,000. Flow Traders U.S. LLC bought a new position in iShares Select Dividend ETF in the second quarter valued at approximately $1,405,000. Park Avenue Securities LLC bought a new stake in shares of iShares Select Dividend ETF during the 3rd quarter valued at $1,595,000. Cove Private Wealth LLC increased its holdings in iShares Select Dividend ETF by 64.6% in the second quarter. Cove Private Wealth LLC now owns 8,280 shares of the company’s stock valued at $1,100,000 after purchasing an additional 3,250 shares during the last quarter. Finally, Courage Miller Partners LLC lifted its stake in iShares Select Dividend ETF by 28.6% in the second quarter. Courage Miller Partners LLC now owns 2,795 shares of the company’s stock valued at $371,000 after buying an additional 621 shares during the period. 46.08% of the stock is currently owned by hedge funds and other institutional investors.

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.