Ellis Investment Partners LLC Cuts Stock Position in iShares Select Dividend ETF (NASDAQ:DVY)

Ellis Investment Partners LLC cut its holdings in shares of iShares Select Dividend ETF (NASDAQ:DVY) by 7.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 202,190 shares of the company’s stock after selling 15,425 shares during the quarter. iShares Select Dividend ETF makes up 5.6% of Ellis Investment Partners LLC’s portfolio, making the stock its largest position. Ellis Investment Partners LLC owned about 0.14% of iShares Select Dividend ETF worth $27,152,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Transamerica Financial Advisors Inc. bought a new stake in shares of iShares Select Dividend ETF in the 4th quarter valued at about $27,000. Millstone Evans Group LLC bought a new stake in shares of iShares Select Dividend ETF in the 4th quarter valued at about $36,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of iShares Select Dividend ETF in the 4th quarter valued at about $40,000. Mpwm Advisory Solutions LLC bought a new stake in shares of iShares Select Dividend ETF in the 4th quarter valued at about $40,000. Finally, Marshall Investment Management LLC bought a new stake in shares of iShares Select Dividend ETF in the 4th quarter valued at about $47,000. 46.08% of the stock is owned by institutional investors.

iShares Select Dividend ETF Stock Performance

Shares of DVY stock opened at $130.34 on Friday. The firm’s 50-day moving average is $129.83 and its 200-day moving average is $131.92. The stock has a market cap of $19.28 billion, a price-to-earnings ratio of 15.12 and a beta of 0.87. iShares Select Dividend ETF has a 52-week low of $115.94 and a 52-week high of $144.09.

iShares Select Dividend ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Monday, June 16th were issued a $1.2333 dividend. This represents a $4.93 dividend on an annualized basis and a dividend yield of 3.78%. This is a boost from iShares Select Dividend ETF’s previous quarterly dividend of $0.93. The ex-dividend date was Monday, June 16th.

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.