BNY Mellon International Equity ETF Reaches 1-Year High After Dividend Boost
Shares of the BNY Mellon International Equity ETF (NYSEARCA:BKIE) achieved a new 52-week high on Monday following the announcement of an increased dividend. During trading, the stock peaked at $94.23 before closing at $92.9370, with a total volume of 25,419 shares exchanged. This marks a notable rise from the previous closing price of $93.93.
The newly declared dividend of $1.0429 per share will be distributed to stockholders on January 2, 2024. To qualify for this dividend, investors must be on record by December 29, 2023. This increase represents a significant jump from the prior quarterly dividend of $0.52. With the annualized dividend now amounting to $4.17, the ETF boasts a dividend yield of 4.5%.
Market Performance and Financial Indicators
The performance of the BNY Mellon International Equity ETF has shown positive momentum. Currently, the stock’s 50-day moving average stands at $90.96, while its 200-day moving average is at $88.33. The ETF has a market capitalization of approximately $1.07 billion, a price-to-earnings (PE) ratio of 16.44, and a beta of 0.85, indicating relatively stable price movements compared to the broader market.
Overview of the BNY Mellon International Equity ETF
Launched on April 24, 2020, the BNY Mellon International Equity ETF primarily focuses on large-cap equities. It tracks a market-cap-weighted index that includes large-cap stocks from developed markets outside the United States. The fund is managed by BNY Mellon, a prominent player in the investment management sector.
As investors continue to monitor the performance of the ETF, the recent dividend announcement is likely to attract interest from both current and potential shareholders. The increased dividend reflects the fund’s commitment to delivering value to its investors, reinforcing confidence in its long-term strategy.
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