Invesco Dividend Achievers ETF (NASDAQ:PFM) Sets New 52-Week High – Here’s Why

Invesco Dividend Achievers ETF (NASDAQ:PFM) hit a new 52-week high on Tuesday . The company traded as high as $52.44 and last traded at $52.4490, with a volume of 25354 shares traded. The stock had previously closed at $51.99.

Invesco Dividend Achievers ETF Stock Performance

The stock has a market capitalization of $766.76 million, a PE ratio of 23.20 and a beta of 0.82. The company has a 50 day moving average of $51.37 and a two-hundred day moving average of $50.20.

Invesco Dividend Achievers ETF Increases Dividend

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

Institutional Investors Weigh In On Invesco Dividend Achievers ETF

Institutional investors have recently added to or reduced their stakes in the stock. CWM LLC grew its stake in Invesco Dividend Achievers ETF by 58.0% during the 2nd quarter. CWM LLC now owns 689 shares of the company’s stock valued at $33,000 after acquiring an additional 253 shares in the last quarter. Allworth Financial LP boosted its position in shares of Invesco Dividend Achievers ETF by 22.2% in the 3rd quarter. Allworth Financial LP now owns 3,184 shares of the company’s stock valued at $162,000 after purchasing an additional 579 shares during the period. Briaud Financial Planning Inc acquired a new position in Invesco Dividend Achievers ETF in the second quarter valued at $187,000. Sovran Advisors LLC acquired a new stake in Invesco Dividend Achievers ETF during the 2nd quarter worth approximately $231,000. Finally, Caldwell Trust Co purchased a new stake in shares of Invesco Dividend Achievers ETF in the second quarter valued at about $296,000.

Invesco Dividend Achievers ETF Company Profile

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.