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‘You Have to Buy Some Risk’: Pro

High-quality, dividend-paying equities are the best way to play this stock market, Glenmede Director of Investment Strategy Jason Pride said Tuesday.

"Things are getting better, but are they really 14 percent-per-year better? We kind of look at it and think that that might be a little bit too fast and too far in a short time frame," he said. "I think this idea of consolidation in the near-term makes some sense."

On CNBC's "Fast Money," Pride said that the stock market still appeared to be "stimulus-driven."

(Read More: Stock Market Taking a Breather: Pro)

That means that over the long-term, investors were being "punished" for being in safe positions such as cash, "so you do have to buy some risk," he added.

Pride noted "a lot of conflicting signals" in the market.

"I think in those environments, you kind of stay in the middle and you get selective," he said. "You get down into the nitty-gritty of what's good and what's bad. We still like high-quality, dividend-paying equities."

(Read More: Top 3 Tech Stocks Aren't in the US: Pro)

Pride said that riskier equities, global bonds and bank loans were among his top plays.

But Pride, with $22 billion in assets under management, also urged caution.

"You really need to do that selectively because there are some bad ideas out there, and there are some good ideas out there," he said.

Trader disclosure: On June 11 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Mike Murphy is long FB; Mike Murphy is long MSFT; Mike Murphy is long GME; Mike Murphy is long T; Joe Terranova is long VRTS; Joe Terranova is long SJM; Joe Terranova is long AAPL; Joe Terranova is long SPLK; Joe Terranova is long GLD; Joe Terranova is long TBT; Joe Terranova is long SWN; Joe Terranova is long GOOG JUNE 870 PUTS; Joe Terranova is long GS JUNE 165 PUTS; Joe Terranova is short MINI S&P FUTURES; Josh Brown is long AAPL; Josh Brown is long JPM; Josh Brown is long TLT; Josh Brown is long LULU; Pete Najarian is long AAPL; Pete Najarian is long BAC; Pete Najarian is long JPM; Pete Najarian is long MS; Pete Najarian is long XLF; Pete Najarian is long INTC; Pete Najarian is long YHOO; Pete Najarian is long BBRY; Pete Najarian is long SBUX; Pete Najarian is long FB; Pete Najarian is long MSFT.

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