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Interested in stocks paying dividend income but don't know where to start? Here are some ideas you may find interesting.

We ran a screen on dividend stocks currently rallying above their 20-day, 50-day, and 200-day moving averages for those with the most significant net institutional purchases over the current quarter. This indicates that institutional investors such as hedge fund managers and mutual fund managers believe these stocks will soon outperform.

Interactive Chart: Press Play to compare changes in analyst ratings over the last two years for the top six stocks mentioned below. Analyst ratings sourced from Zacks Investment Research.‬

We also created a price-weighted index of the stocks mentioned below, and monitored the performance of the list relative to the S&P 500 index over the last month. To access a complete analysis of this list's recent performance, click here.

Do you think these stocks pay attractive dividends? Use this list as a starting point for your own analysis.

List sorted by net institutional purchases as a percent of share float.

1. Weight Watchers International, Inc. (NYSE:WTW): Provides weight management services worldwide. Market cap of $5.11B. Dividend yield at 1.01%, payout ratio at 17.71%. The stock is currently trading at 17.30% above its 20-Day SMA, 11.74% above its 50-Day SMA, and 2.74% above its 200-Day SMA. Net institutional shares purchased over the current quarter at 4.1M, which is 11.68% of the company's 35.11M share float. The stock is a short squeeze candidate, with a short float at 19.04% (equivalent to 5.05 days of average volume). The stock has had a couple of great days, gaining 20.44% over the last week.

2. Presidential Life Corp. (NASDAQ:PLFE): Engages in the marketing and sale of various fixed annuity, life insurance, and accident and health insurance products in the United States. Market cap of $314.92M. Dividend yield at 2.35%, payout ratio at 19.04%. The stock is currently trading at 5.55% above its 20-Day SMA, 8.60% above its 50-Day SMA, and 9.69% above its 200-Day SMA. Net institutional shares purchased over the current quarter at 2.1M, which is 8.43% of the company's 24.91M share float. The stock has gained 9.34% over the last year.

3. Ecolab Inc. (NYSE:ECL): Develops and markets products and services for the hospitality, foodservice, healthcare, and industrial markets primarily in the United States. Market cap of $13.77B. Dividend yield at 1.35%, payout ratio at 32.16%. The stock is currently trading at 5.41% above its 20-Day SMA, 7.75% above its 50-Day SMA, and 13.85% above its 200-Day SMA. Net institutional shares purchased over the current quarter at 16.9M, which is 8.03% of the company's 210.57M share float. The stock has gained 22.79% over the last year.

4. Williams Companies, Inc. (NYSE:WMB): Engages in finding, producing, gathering, processing, and transporting natural gas primarily in the United States. Market cap of $16.41B. Dividend yield at 3.59%, payout ratio at 37.77%. The stock is currently trading at 6.33% above its 20-Day SMA, 9.84% above its 50-Day SMA, and 18.13% above its 200-Day SMA. Net institutional shares purchased over the current quarter at 36.6M, which is 6.23% of the company's 587.29M share float. The stock has gained 38.37% over the last year.

5. Telephone & Data Systems Inc. (NYSE:TDS): Provides wireless and wireline telecommunications services in the United States. Market cap of $2.85B. Dividend yield at 1.71%, payout ratio at 21.76%. The stock is currently trading at 8.95% above its 20-Day SMA, 10.87% above its 50-Day SMA, and 2.69% above its 200-Day SMA. Net institutional shares purchased over the current quarter at 3.9M, which is 4.86% of the company's 80.26M share float. Might be undervalued at current levels, with a PEG ratio at 0.9, and P/FCF ratio at 7.93. The stock is a short squeeze candidate, with a short float at 8.87% (equivalent to 13.29 days of average volume). The stock has had a couple of great days, gaining 5.08% over the last week.

6. AO Smith Corp. (NYSE:AOS): Engages in the manufacture and sale of water heating equipment to the residential and commercial markets in the United States and internationally. Market cap of $1.97B. Dividend yield at 1.50%, payout ratio at 22.06%. The stock is currently trading at 6.72% above its 20-Day SMA, 11.07% above its 50-Day SMA, and 10.43% above its 200-Day SMA. Net institutional shares purchased over the current quarter at 1.5M, which is 4.68% of the company's 32.04M share float. The stock has gained 8.56% over the last year.

7. National Penn Bancshares Inc. (NASDAQ:NPBC): Operates as the bank holding company for National Penn Bank that provides commercial banking products and services to residents and businesses primarily in eastern and central Pennsylvania. Market cap of $1.34B. Dividend yield at 1.82%, payout ratio at 12.73%. The stock is currently trading at 4.49% above its 20-Day SMA, 8.55% above its 50-Day SMA, and 17.15% above its 200-Day SMA. Net institutional shares purchased over the current quarter at 4.5M, which is 4.59% of the company's 98.02M share float. The stock is a short squeeze candidate, with a short float at 5.24% (equivalent to 8.15 days of average volume). The stock has gained 11.52% over the last year.

8. Canadian Pacific Railway Limited (NYSE:CP): Provides rail and intermodal freight transportation services. Market cap of $11.54B. Dividend yield at 1.73%, payout ratio at 36.14%. The stock is currently trading at 5.38% above its 20-Day SMA, 10.24% above its 50-Day SMA, and 15.50% above its 200-Day SMA. Net institutional shares purchased over the current quarter at 6.5M, which is 4.48% of the company's 145.17M share float. The stock has gained 3.66% over the last year.

9. Gentex Corp. (NASDAQ:GNTX): Designs, develops, manufactures, and markets electro-optical products to automotive, commercial building, and aircraft industries in the United States and internationally. Market cap of $4.34B. Dividend yield at 1.59%, payout ratio at 41.69%. The stock is currently trading at 5.63% above its 20-Day SMA, 6.11% above its 50-Day SMA, and 9.84% above its 200-Day SMA. Net institutional shares purchased over the current quarter at 6.1M, which is 4.40% of the company's 138.58M share float. The stock has lost 2.2% over the last year.

10. Home Bancshares, Inc. (Conway, AR) (NASDAQ:HOMB): Operates as a holding company for the Centennial Bank that provides various commercial and retail banking, and related financial products and services to businesses, real estate developers, investors, individuals, and municipalities. Market cap of $733.04M. Dividend yield at 1.23%, payout ratio at 28.34%. The stock is currently trading at 1.21% above its 20-Day SMA, 4.78% above its 50-Day SMA, and 10.38% above its 200-Day SMA. Net institutional shares purchased over the current quarter at 1.0M, which is 4.39% of the company's 22.80M share float. The stock is a short squeeze candidate, with a short float at 6.78% (equivalent to 16.24 days of average volume). The stock has gained 26.67% over the last year.

11. Susquehanna Bancshares, Inc. (NASDAQ:SUSQ): Provides retail and commercial banking, and financial services in the mid-Atlantic region. Market cap of $1.44B. Dividend yield at 1.31%, payout ratio at 17.13%. The stock is currently trading at 11.20% above its 20-Day SMA, 18.46% above its 50-Day SMA, and 22.64% above its 200-Day SMA. Net institutional shares purchased over the current quarter at 6.5M, which is 4.21% of the company's 154.53M share float. The stock is a short squeeze candidate, with a short float at 9.15% (equivalent to 8.06 days of average volume). The stock has had a couple of great days, gaining 6.74% over the last week.

12. Rockwell Collins Inc. (NYSE:COL): Engages in the design, production, and support of communications and aviation electronics for commercial and military customers worldwide. Market cap of $8.49B. Dividend yield at 1.68%, payout ratio at 24.04%. The stock is currently trading at 3.88% above its 20-Day SMA, 5.34% above its 50-Day SMA, and 2.67% above its 200-Day SMA. Net institutional shares purchased over the current quarter at 5.9M, which is 4.20% of the company's 140.39M share float. The stock is a short squeeze candidate, with a short float at 5.44% (equivalent to 6.85 days of average volume). The stock has lost 3.38% over the last year.

13. Activision Blizzard, Inc. (NASDAQ:ATVI): Publishes online, personal computer (PC), console, handheld, and mobile games of interactive entertainment worldwide. Market cap of $14.43B. Dividend yield at 1.31%, payout ratio at 26.22%. The stock is currently trading at 3.86% above its 20-Day SMA, 1.52% above its 50-Day SMA, and 5.91% above its 200-Day SMA. Net institutional shares purchased over the current quarter at 18.7M, which is 4.13% of the company's 453.28M share float. The stock has gained 7.23% over the last year.

14. Churchill Downs Inc. (NASDAQ:CHDN): Operates pari-mutuel wagering properties and businesses in the United States. Market cap of $887.0M. Dividend yield at 1.16%, payout ratio at 15.79%. The stock is currently trading at 4.81% above its 20-Day SMA, 10.28% above its 50-Day SMA, and 20.97% above its 200-Day SMA. Net institutional shares purchased over the current quarter at 465.0K, which is 4.06% of the company's 11.45M share float. The stock has gained 19.76% over the last year.

15. Intercontinental Hotels Group plc (NYSE:IHG): Owns, manages, franchises, and leases hotels and resorts. Market cap of $5.55B. Dividend yield at 2.68%, payout ratio at 38.64%. The stock is currently trading at 10.44% above its 20-Day SMA, 11.12% above its 50-Day SMA, and 1.93% above its 200-Day SMA. Net institutional shares purchased over the current quarter at 10.0M, which is 3.56% of the company's 281.09M share float. The stock has had a couple of great days, gaining 7.12% over the last week.

16. Independent Bank Corp. (NASDAQ:INDB): Operates as the bank holding company for Rockland Trust Company that provides commercial and retail banking, and wealth management services in Massachusetts. Market cap of $605.95M. Dividend yield at 2.69%, payout ratio at 34.78%. The stock is currently trading at 4.53% above its 20-Day SMA, 9.56% above its 50-Day SMA, and 12.01% above its 200-Day SMA. Net institutional shares purchased over the current quarter at 713.1K, which is 3.49% of the company's 20.42M share float. The stock is a short squeeze candidate, with a short float at 14.45% (equivalent to 39.29 days of average volume). The stock has gained 7.47% over the last year.

17. City National Corp. (NYSE:CYN): Operates as the bank holding company for City National Bank that provides a range of banking, investing, and trust services to small to mid-sized businesses, entrepreneurs, professionals, and affluent individuals. Market cap of $2.56B. Dividend yield at 1.66%, payout ratio at 22.39%. The stock is currently trading at 8.63% above its 20-Day SMA, 12.93% above its 50-Day SMA, and 1.75% above its 200-Day SMA. Net institutional shares purchased over the current quarter at 1.5M, which is 3.22% of the company's 46.59M share float. The stock has had a couple of great days, gaining 6.08% over the last week.

18. Umpqua Holdings Corporation (NASDAQ:UMPQ): Operates as the bank holding company for Umpqua Bank that provides commercial and retail banking services to corporate, institutional, and individual customers primarily in the areas of Oregon, northern California, and Washington. Market cap of $1.47B. Dividend yield at 2.18%, payout ratio at 41.52%. The stock is currently trading at 3.46% above its 20-Day SMA, $0.06 above its 50-Day SMA, and 17.88% above its 200-Day SMA. Net institutional shares purchased over the current quarter at 3.6M, which is 3.18% of the company's 113.33M share float. The stock is a short squeeze candidate, with a short float at 7.51% (equivalent to 8.08 days of average volume). The stock has gained 6.55% over the last year.

*Institutional data sourced from Fidelity, all other data sourced from Finviz.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.