iShares Select Dividend ETF (NASDAQ:DVY) Reaches New 52-Week High – Should You Buy?

Shares of iShares Select Dividend ETF (NASDAQ:DVY) reached a new 52-week high during trading on Wednesday . The company traded as high as $150.66 and last traded at $150.4420, with a volume of 89789 shares trading hands. The stock had previously closed at $149.49.

iShares Select Dividend ETF Trading Up 0.6%

The firm has a market cap of $22.05 billion, a P/E ratio of 13.69 and a beta of 0.77. The stock’s fifty day moving average is $143.54 and its two-hundred day moving average is $140.98.

iShares Select Dividend ETF Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Tuesday, December 16th were issued a $1.6162 dividend. The ex-dividend date of this dividend was Tuesday, December 16th. This is an increase from iShares Select Dividend ETF’s previous quarterly dividend of $1.25. This represents a $6.46 annualized dividend and a dividend yield of 4.3%.

Hedge Funds Weigh In On iShares Select Dividend ETF

Institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its holdings in shares of iShares Select Dividend ETF by 3.3% during the third quarter. Bank of America Corp DE now owns 8,096,893 shares of the company’s stock worth $1,150,568,000 after purchasing an additional 256,434 shares in the last quarter. Laurel Wealth Advisors LLC lifted its position in iShares Select Dividend ETF by 13,158.9% during the second 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. Envestnet Asset Management Inc. grew its stake in iShares Select Dividend ETF by 3.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,612,404 shares of the company’s stock worth $214,086,000 after buying an additional 57,961 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of iShares Select Dividend ETF by 1.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,549,408 shares of the company’s stock worth $220,171,000 after buying an additional 24,718 shares during the last quarter. Finally, Truist Financial Corp raised its position in shares of iShares Select Dividend ETF by 1.4% during the 2nd quarter. Truist Financial Corp now owns 1,165,722 shares of the company’s stock valued at $154,820,000 after buying an additional 15,783 shares in the last quarter. 46.08% of the stock is currently owned by 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.