Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY) Sees Unusually-High Trading Volume – Should You Buy?

Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY) shares saw an uptick in trading volume on Monday . 746,831 shares were traded during trading, an increase of 142% from the previous session’s volume of 308,754 shares.The stock last traded at $20.86 and had previously closed at $20.60.

Invesco High Yield Equity Dividend Achievers ETF Stock Up 1.7%

The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 13.11 and a beta of 0.74. The stock has a 50 day simple moving average of $21.55 and a 200 day simple moving average of $21.02.

Invesco High Yield Equity Dividend Achievers ETF Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 23rd were given a $0.0808 dividend. The ex-dividend date of this dividend was Monday, February 23rd. This represents a c) annualized dividend and a yield of 4.6%.

Institutional Trading of Invesco High Yield Equity Dividend Achievers ETF

Hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. lifted its position in shares of Invesco High Yield Equity Dividend Achievers ETF by 2.6% during the third quarter. Raymond James Financial Inc. now owns 668,913 shares of the company’s stock valued at $14,092,000 after purchasing an additional 17,002 shares in the last quarter. Investors Research Corp grew its position in Invesco High Yield Equity Dividend Achievers ETF by 5.1% in the 4th quarter. Investors Research Corp now owns 359,092 shares of the company’s stock worth $7,320,000 after purchasing an additional 17,584 shares in the last quarter. UBS Group AG increased its stake in Invesco High Yield Equity Dividend Achievers ETF by 2.9% in the 4th quarter. UBS Group AG now owns 296,426 shares of the company’s stock valued at $6,043,000 after buying an additional 8,219 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Invesco High Yield Equity Dividend Achievers ETF by 155.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 268,216 shares of the company’s stock valued at $5,469,000 after buying an additional 163,387 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in shares of Invesco High Yield Equity Dividend Achievers ETF by 28.2% during the 4th quarter. Royal Bank of Canada now owns 263,179 shares of the company’s stock worth $5,366,000 after buying an additional 57,841 shares in the last quarter.

About Invesco High Yield Equity Dividend Achievers ETF

PowerShares High Yield Equity Dividend Achiever Portfolio (the Fund) is based on the Mergent Dividend Achiever 50 Index (the Index). The Fund focuses to invest at least 90% of its total assets in dividend paying common stocks, which comprise the Index. The Index is comprised of 50 stocks selected principally on the basis of dividend yield and consistent growth in dividends. The Funds sector allocation includes consumers discretionary, consumer staples, energy, financials, healthcare, industrials, information technology, materials and telecommunication services.