Westmount Partners LLC has decreased its stake in the iShares Select Dividend ETF (NASDAQ: DVY) by 13.0% during the first quarter of 2024. This reduction was disclosed in the firm’s latest Form 13F filing with the Securities and Exchange Commission (SEC). Following the sale of 354 shares, Westmount now holds 2,360 shares, valued at approximately $317,000.
A variety of institutional investors and hedge funds have also adjusted their positions in the iShares Select Dividend ETF. Notably, Wells Fargo & Company increased its ownership by 5.0% during the fourth quarter of 2023, bringing its total to 3,875,784 shares, valued at $508,852,000. Similarly, Royal Bank of Canada raised its stake by 4.5%, owning now 2,346,687 shares valued at $308,096,000.
Additionally, JPMorgan Chase & Co. significantly boosted its position by 22.8%, holding 1,695,199 shares worth $222,563,000. LPL Financial LLC and Envestnet Asset Management Inc. also increased their stakes by 8.9% and 2.5%, respectively, acquiring 130,573 and 38,432 shares in the last quarter. Overall, hedge funds and institutional investors collectively own 46.08% of the ETF.
The iShares Select Dividend ETF opened at $136.19 on Friday, with a 52-week low of $115.94 and a 52-week high of $144.09. The fund boasts a market capitalization of $20.16 billion, a price-to-earnings ratio of 13.69, and a beta of 0.87. The ETF’s 50-day moving average price stands at $132.07, while the 200-day moving average price is $131.86.
The iShares Select Dividend ETF, formerly known as the iShares Dow Jones Select Dividend Index Fund, aims to provide investment results that align with the performance of the Dow Jones U.S. Select Dividend Index. This index tracks equity securities from companies known for consistently high dividend yields.
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