Stelac Advisory Services LLC has increased its holdings in the iShares Select Dividend ETF (NASDAQ: DVY) by 16.4% during the third quarter of 2023. According to data from HoldingsChannel.com, the institutional investor now owns 45,752 shares after acquiring an additional 6,441 shares in this period. This investment now represents approximately 2.2% of Stelac’s portfolio, making it the firm’s 17th largest holding.
As of the end of the most recent quarter, Stelac’s stake in the iShares Select Dividend ETF was valued at around $6.5 million. Other institutional investors have also adjusted their positions in the ETF. For instance, First Horizon Corp established a new position worth $1,585,000 in the third quarter. Meanwhile, Flow Traders U.S. LLC and Park Avenue Securities LLC have also invested, with the latter acquiring shares valued at approximately $1,595,000.
In a notable move, HighTower Advisors LLC raised its stake in the iShares Select Dividend ETF by 5.2%, now holding 329,839 shares worth about $46.87 million after purchasing an additional 16,296 shares. Similarly, FAS Wealth Partners Inc. increased its holdings by 12.5% during the same quarter, now owning 31,308 shares valued at $4.45 million. Overall, institutional investors hold 46.08% of the ETF’s shares.
iShares Select Dividend ETF Performance
On the trading front, shares of the iShares Select Dividend ETF gained $1.02 during midday trading on March 15, 2024, reaching $151.49. Approximately 66,939 shares exchanged hands, a significant drop from the average volume of 549,199. The ETF’s 50-day moving average stands at $151.50, while its 200-day moving average is $144.81. The ETF has a market capitalization of $22.09 billion, a price-to-earnings (P/E) ratio of 13.69, and a beta of 0.77.
Over the past year, the iShares Select Dividend ETF has experienced fluctuations, with a 52-week low of $115.94 and a high of $160.38.
About iShares Select Dividend ETF
The iShares Select Dividend ETF, previously known as the iShares Dow Jones Select Dividend Index Fund, aims to track the performance of the Dow Jones U.S. Select Dividend Index. This index measures the performance of a group of equity securities issued by U.S. companies that have consistently provided high dividend yields over time. It includes 100 of the highest dividend-yielding securities, excluding real estate investment trusts (REITs).
For those interested in tracking institutional investments, HoldingsChannel.com provides updates on the latest 13F filings and insider trades related to the iShares Select Dividend ETF.
