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

iShares Select Dividend ETF (NASDAQ:DVY) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $158.91 and last traded at $157.6130, with a volume of 30082 shares trading hands. The stock had previously closed at $156.34.

iShares Select Dividend ETF Price Performance

The company has a market cap of $22.92 billion, a P/E ratio of 13.69 and a beta of 0.77. The stock’s 50-day moving average is $147.13 and its two-hundred day moving average is $142.74.

iShares Select Dividend ETF Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Tuesday, December 16th were given a dividend of $1.6162 per share. This represents a $6.46 dividend on an annualized basis and a yield of 4.1%. This is a boost from iShares Select Dividend ETF’s previous quarterly dividend of $1.25. The ex-dividend date was Tuesday, December 16th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Elevated Capital Advisors LLC purchased a new stake in shares of iShares Select Dividend ETF during the 4th quarter valued at about $26,000. Parvin Asset Management LLC purchased a new stake in iShares Select Dividend ETF during the second quarter valued at approximately $27,000. Ransom Advisory Ltd bought a new position in iShares Select Dividend ETF in the fourth quarter worth approximately $27,000. Financial Gravity Companies Inc. purchased a new position in shares of iShares Select Dividend ETF during the 2nd quarter worth $29,000. Finally, Total Investment Management Inc. purchased a new position in shares of iShares Select Dividend ETF during the 2nd quarter worth $29,000. 46.08% of the stock is owned by hedge funds and other institutional investors.

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.