iShares Select Dividend ETF (NASDAQ:DVY) Sees Large Decline in Short Interest

iShares Select Dividend ETF (NASDAQ:DVY) saw a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 744,400 shares, a decline of 34.7% from the February 28th total of 1,140,000 shares. Based on an average daily volume of 530,100 shares, the short-interest ratio is presently 1.4 days. Currently, 0.5% of the company’s stock are sold short.

Hedge Funds Weigh In On iShares Select Dividend ETF

Several hedge funds have recently made changes to their positions in the company. M1 Capital Management LLC purchased a new position in shares of iShares Select Dividend ETF in the fourth quarter worth about $747,000. Chancellor Financial Group WB LP purchased a new position in iShares Select Dividend ETF during the 4th quarter worth approximately $444,000. Wealth Enhancement Advisory Services LLC lifted its stake in iShares Select Dividend ETF by 24.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 190,615 shares of the company’s stock valued at $25,026,000 after acquiring an additional 37,350 shares during the period. NorthCrest Asset Manangement LLC boosted its holdings in shares of iShares Select Dividend ETF by 0.7% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 11,978 shares of the company’s stock valued at $1,573,000 after acquiring an additional 83 shares during the last quarter. Finally, BridgePort Financial Solutions LLC purchased a new stake in iShares Select Dividend ETF in the fourth quarter valued at $313,000. 46.08% of the stock is owned by institutional investors and hedge funds.

iShares Select Dividend ETF Price Performance

Shares of DVY stock traded down $1.09 during mid-day trading on Friday, hitting $132.74. 240,806 shares of the stock traded hands, compared to its average volume of 436,996. iShares Select Dividend ETF has a 52-week low of $115.43 and a 52-week high of $144.09. The stock’s fifty day moving average is $134.70 and its two-hundred day moving average is $135.11. The stock has a market cap of $19.73 billion, a P/E ratio of 15.96 and a beta of 0.87.

iShares Select Dividend ETF Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, March 18th were paid a dividend of $1.0495 per share. The ex-dividend date of this dividend was Tuesday, March 18th.

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.