Independent Financial Group LLC Invests $1.41 Million in iShares Select Dividend ETF $DVY

Independent Financial Group LLC purchased a new position in iShares Select Dividend ETF (NASDAQ:DVY) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 9,284 shares of the company’s stock, valued at approximately $1,406,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DVY. Morgan Stanley grew its stake in iShares Select Dividend ETF by 3.6% during the 4th quarter. Morgan Stanley now owns 6,506,794 shares of the company’s stock valued at $918,369,000 after purchasing an additional 224,125 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of iShares Select Dividend ETF by 1,771.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,385,482 shares of the company’s stock valued at $901,247,000 after purchasing an additional 6,044,290 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of iShares Select Dividend ETF by 1.9% in the 4th quarter. Wells Fargo & Company MN now owns 3,807,955 shares of the company’s stock valued at $537,455,000 after purchasing an additional 69,658 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of iShares Select Dividend ETF by 3.9% during the 4th quarter. Royal Bank of Canada now owns 3,073,777 shares of the company’s stock valued at $433,832,000 after buying an additional 114,490 shares during the last quarter. Finally, LPL Financial LLC boosted its stake in shares of iShares Select Dividend ETF by 3.8% during the 4th quarter. LPL Financial LLC now owns 1,789,466 shares of the company’s stock valued at $252,565,000 after buying an additional 65,691 shares during the last quarter. Hedge funds and other institutional investors own 46.08% of the company’s stock.

iShares Select Dividend ETF Stock Performance

DVY stock opened at $161.83 on Monday. iShares Select Dividend ETF has a twelve month low of $132.83 and a twelve month high of $164.73. The company has a market capitalization of $23.78 billion, a P/E ratio of 13.69 and a beta of 0.66. The firm has a 50 day simple moving average of $155.98 and a 200-day simple moving average of $152.90.

iShares Select Dividend ETF Increases Dividend

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

iShares Select Dividend ETF 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.