iShares Select Dividend ETF (NASDAQ:DVY) Sets New 52-Week High – Time to Buy?

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

iShares Select Dividend ETF Trading Up 1.1%

The business’s fifty day moving average price is $142.71 and its 200 day moving average price is $140.53. The firm has a market capitalization of $21.72 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. Stockholders of record on Tuesday, December 16th were paid a dividend of $1.6162 per share. This represents a $6.46 annualized dividend and a dividend yield of 4.4%. This is a positive change from iShares Select Dividend ETF’s previous quarterly dividend of $1.25. The ex-dividend date was Tuesday, December 16th.

Hedge Funds Weigh In On iShares Select Dividend ETF

Institutional investors have recently added to or reduced their stakes in the stock. Laurel Wealth Advisors LLC grew its stake in shares of iShares Select Dividend ETF by 13,158.9% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,897,610 shares of the company’s stock valued at $252,022,000 after purchasing an additional 1,883,298 shares during the last quarter. Bank of America Corp DE grew its position in iShares Select Dividend ETF by 3.3% in the 3rd quarter. Bank of America Corp DE now owns 8,096,893 shares of the company’s stock valued at $1,150,568,000 after buying an additional 256,434 shares during the last quarter. Orion Porfolio Solutions LLC increased its stake in iShares Select Dividend ETF by 526.0% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 181,391 shares of the company’s stock valued at $24,091,000 after buying an additional 152,417 shares during the period. UBS Group AG raised its position in iShares Select Dividend ETF by 10.0% during the 3rd quarter. UBS Group AG now owns 1,155,033 shares of the company’s stock worth $164,130,000 after buying an additional 104,866 shares during the last quarter. Finally, HB Wealth Management LLC raised its position in iShares Select Dividend ETF by 129.7% during the 2nd quarter. HB Wealth Management LLC now owns 129,405 shares of the company’s stock worth $17,186,000 after buying an additional 73,079 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.