Invesco Dividend Achievers ETF (NASDAQ:PFM) Sees Large Volume Increase – Here’s What Happened

Shares of Invesco Dividend Achievers ETF (NASDAQ:PFM) saw an uptick in trading volume on Monday . 22,339 shares traded hands during mid-day trading, a decline of 22% from the previous session’s volume of 28,494 shares.The stock last traded at $51.9910 and had previously closed at $52.06.

Invesco Dividend Achievers ETF Stock Down 0.3%

The company has a fifty day simple moving average of $51.30 and a 200-day simple moving average of $50.01. The firm has a market cap of $746.05 million, a P/E ratio of 23.20 and a beta of 0.82.

Invesco Dividend Achievers ETF Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Monday, December 22nd were paid a dividend of $0.185 per share. This is a boost from Invesco Dividend Achievers ETF’s previous quarterly dividend of $0.17. The ex-dividend date was Monday, December 22nd. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.4%.

Hedge Funds Weigh In On Invesco Dividend Achievers ETF

Several large investors have recently added to or reduced their stakes in the company. Flaharty Asset Management LLC purchased a new stake in shares of Invesco Dividend Achievers ETF in the third quarter worth $25,379,000. Kingswood Wealth Advisors LLC bought a new position in Invesco Dividend Achievers ETF in the 3rd quarter worth $2,302,000. TD Waterhouse Canada Inc. increased its stake in Invesco Dividend Achievers ETF by 36.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 95,087 shares of the company’s stock worth $4,611,000 after buying an additional 25,516 shares in the last quarter. Lido Advisors LLC bought a new stake in Invesco Dividend Achievers ETF during the third quarter valued at about $852,000. Finally, Ibex Wealth Advisors bought a new stake in Invesco Dividend Achievers ETF during the second quarter valued at about $408,000.

About Invesco Dividend Achievers ETF

PowerShares Dividend Achievers Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Broad Dividend Achievers Index (the Index). The Index is designed to identify a diversified group of dividend paying companies. These companies have increased their annual dividend for 10 or more consecutive fiscal years. The portfolio is rebalanced quarterly and reconstituted annually. The Fund will normally invest at least 90% of its total assets in dividend paying common stocks that comprise Index.