iShares Select Dividend ETF (NASDAQ:DVY) Reaches New 12-Month High – Still a Buy?

iShares Select Dividend ETF (NASDAQ:DVY) hit a new 52-week high during mid-day trading on Tuesday . The company 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 Up 0.1%

The company’s fifty day simple moving average is $147.71 and its two-hundred day simple moving average is $143.00. The company has a market capitalization of $22.85 billion, a price-to-earnings ratio of 13.69 and a beta of 0.77.

iShares Select Dividend ETF Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Tuesday, December 16th were issued 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 annualized dividend and a yield of 4.1%. The ex-dividend date was Tuesday, December 16th.

Hedge Funds Weigh In On iShares Select Dividend ETF

Several institutional investors and hedge funds have recently modified their holdings of DVY. First Horizon Corp bought a new stake in iShares Select Dividend ETF during the third quarter worth about $1,585,000. Flow Traders U.S. LLC purchased a new position in shares of iShares Select Dividend ETF during the second quarter valued at approximately $1,405,000. Park Avenue Securities LLC purchased a new position in shares of iShares Select Dividend ETF during the third quarter valued at approximately $1,595,000. FAS Wealth Partners Inc. boosted its position in shares of iShares Select Dividend ETF by 12.5% in the 3rd quarter. FAS Wealth Partners Inc. now owns 31,308 shares of the company’s stock worth $4,449,000 after purchasing an additional 3,467 shares in the last quarter. Finally, Allworth Financial LP grew its stake in shares of iShares Select Dividend ETF by 14.7% in the 2nd quarter. Allworth Financial LP now owns 27,513 shares of the company’s stock worth $3,654,000 after buying an additional 3,519 shares during the last quarter. 46.08% of the stock is currently owned by institutional investors and hedge funds.

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.