iShares Select Dividend ETF (NASDAQ:DVY) Short Interest Down 30.3% in March

iShares Select Dividend ETF (NASDAQ:DVY) was the recipient of a significant decrease in short interest in the month of March. As of March 13th, there was short interest totaling 865,888 shares, a decrease of 30.3% from the February 26th total of 1,242,436 shares. Based on an average daily trading volume, of 483,545 shares, the days-to-cover ratio is currently 1.8 days. Currently, 0.6% of the company’s shares are short sold.

iShares Select Dividend ETF Stock Down 0.3%

iShares Select Dividend ETF stock traded down $0.52 during midday trading on Friday, hitting $149.50. 339,775 shares of the stock were exchanged, compared to its average volume of 559,317. The company has a fifty day simple moving average of $152.37 and a two-hundred day simple moving average of $145.43. The stock has a market capitalization of $21.80 billion, a PE ratio of 13.69 and a beta of 0.77. iShares Select Dividend ETF has a 52 week low of $115.94 and a 52 week high of $160.38.

iShares Select Dividend ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Tuesday, March 17th were given a $1.1493 dividend. The ex-dividend date was Tuesday, March 17th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.1%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DVY. Hsbc Holdings PLC grew its stake in iShares Select Dividend ETF by 336.4% in the fourth quarter. Hsbc Holdings PLC now owns 15,231 shares of the company’s stock valued at $2,150,000 after acquiring an additional 11,741 shares during the period. Rockefeller Capital Management L.P. raised its position in shares of iShares Select Dividend ETF by 6.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 507,547 shares of the company’s stock worth $71,635,000 after purchasing an additional 29,933 shares during the period. World Investment Advisors raised its position in shares of iShares Select Dividend ETF by 71.3% during the fourth quarter. World Investment Advisors now owns 21,651 shares of the company’s stock worth $3,056,000 after purchasing an additional 9,014 shares during the period. Winthrop Partners WNY LLC bought a new position in shares of iShares Select Dividend ETF during the 4th quarter valued at about $2,589,000. Finally, Nalls Sherbakoff Group LLC bought a new position in shares of iShares Select Dividend ETF during the 4th quarter valued at about $89,000. 46.08% of the stock is currently owned by institutional investors.

iShares Select Dividend ETF Company 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.