Northwestern Mutual Wealth Management Co. Trims Stake in iShares Select Dividend ETF $DVY

Northwestern Mutual Wealth Management Co. reduced its position in iShares Select Dividend ETF (NASDAQ:DVY) by 9.2% in the 4th quarter, Holdings Channel reports. The firm owned 309,870 shares of the company’s stock after selling 31,322 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in iShares Select Dividend ETF were worth $43,735,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. HighTower Advisors LLC raised its stake in iShares Select Dividend ETF by 5.2% during the 3rd quarter. HighTower Advisors LLC now owns 329,839 shares of the company’s stock valued at $46,870,000 after acquiring an additional 16,296 shares during the last quarter. Advisory Services Network LLC raised its stake in iShares Select Dividend ETF by 11.8% during the 3rd quarter. Advisory Services Network LLC now owns 128,690 shares of the company’s stock valued at $18,287,000 after acquiring an additional 13,536 shares during the last quarter. Caprock Group LLC purchased a new stake in iShares Select Dividend ETF during the 3rd quarter valued at approximately $459,000. American Wealth Advisors LLC purchased a new stake in iShares Select Dividend ETF during the 3rd quarter valued at approximately $1,884,000. Finally, CIBC Bancorp USA Inc. purchased a new position in shares of iShares Select Dividend ETF during the 3rd quarter worth approximately $8,718,000. 46.08% of the stock is owned by hedge funds and other institutional investors.

iShares Select Dividend ETF Trading Down 0.1%

Shares of DVY stock opened at $154.96 on Friday. The company has a market cap of $22.79 billion, a price-to-earnings ratio of 13.69 and a beta of 0.67. The stock has a 50 day simple moving average of $152.33 and a 200-day simple moving average of $149.08. iShares Select Dividend ETF has a 12-month low of $129.36 and a 12-month high of $160.38.

iShares Select Dividend ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Tuesday, March 17th were paid a dividend of $1.1493 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, March 17th.

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.