Even Dividend Stocks Are Breaking Out

|
 |  Includes: DVY, MO
by: Bespoke Investment Group

High dividend payers have done very well recently. One specific name is Altria Group (NYSE:MO), which has broken out to a new bull market high today. Altria hasn't gone from $10 to $100, but it has risen from about $14 to $21 since the March lows, all the while yielding more than 6.5%. MO's current indicated yield is 6.77%, which provides some nice income. As long as the stock remains in an uptrend, Altria seems like an attractive play.

Click to enlarge

The iShares Dow Jones Select Dividend ETF (NYSEARCA:DVY) has also broken out to a new high today. Like MO, DVY is also trading in a very nice uptrend.

Click to enlarge