Keudell Morrison Wealth Management Makes New Investment in iShares Select Dividend ETF $DVY

Keudell Morrison Wealth Management bought a new position in shares of iShares Select Dividend ETF (NASDAQ:DVY) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 8,449 shares of the company’s stock, valued at approximately $1,192,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in iShares Select Dividend ETF by 14.3% during the 4th quarter. Brighton Jones LLC now owns 12,212 shares of the company’s stock worth $1,603,000 after purchasing an additional 1,524 shares in the last quarter. AQR Capital Management LLC increased its holdings in iShares Select Dividend ETF by 44.7% during the 1st quarter. AQR Capital Management LLC now owns 12,687 shares of the company’s stock worth $1,704,000 after purchasing an additional 3,918 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in iShares Select Dividend ETF during the 2nd quarter worth about $34,000. NewEdge Advisors LLC increased its holdings in iShares Select Dividend ETF by 0.4% during the 2nd quarter. NewEdge Advisors LLC now owns 77,878 shares of the company’s stock worth $10,343,000 after purchasing an additional 326 shares in the last quarter. Finally, Quantinno Capital Management LP increased its holdings in iShares Select Dividend ETF by 52.8% during the 2nd quarter. Quantinno Capital Management LP now owns 24,543 shares of the company’s stock worth $3,260,000 after purchasing an additional 8,479 shares in the last quarter. 46.08% of the stock is currently owned by institutional investors.

iShares Select Dividend ETF Trading Up 0.6%

DVY stock opened at $154.13 on Friday. The stock has a 50-day moving average price of $151.75 and a two-hundred day moving average price of $148.46. The stock has a market cap of $22.67 billion, a PE ratio of 13.69 and a beta of 0.67. iShares Select Dividend ETF has a 1 year low of $128.96 and a 1 year high of $160.38.

iShares Select Dividend ETF Cuts Dividend

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

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.