Invesco Dividend Achievers ETF (NASDAQ:PFM) Hits New 52-Week High – Should You Buy?

Invesco Dividend Achievers ETF (NASDAQ:PFM) shares reached a new 52-week high on Thursday . The stock traded as high as $55.22 and last traded at $55.20, with a volume of 7489 shares traded. The stock had previously closed at $54.97.

Invesco Dividend Achievers ETF Price Performance

The stock has a market cap of $779.69 million, a PE ratio of 23.20 and a beta of 0.78. The firm’s 50 day moving average price is $52.95 and its two-hundred day moving average price is $52.56.

Invesco Dividend Achievers ETF Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Monday, March 23rd were given a $0.1949 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 1.4%. This is an increase from Invesco Dividend Achievers ETF’s previous quarterly dividend of $0.18. The ex-dividend date was Monday, March 23rd.

Hedge Funds Weigh In On Invesco Dividend Achievers ETF

Several hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. grew its stake in Invesco Dividend Achievers ETF by 0.4% during the second quarter. Raymond James Financial Inc. now owns 846,279 shares of the company’s stock valued at $40,765,000 after acquiring an additional 3,596 shares in the last quarter. Flaharty Asset Management LLC grew its stake in Invesco Dividend Achievers ETF by 0.3% during the fourth quarter. Flaharty Asset Management LLC now owns 501,524 shares of the company’s stock valued at $25,831,000 after acquiring an additional 1,425 shares in the last quarter. Bank of America Corp DE grew its stake in Invesco Dividend Achievers ETF by 0.7% during the third quarter. Bank of America Corp DE now owns 275,362 shares of the company’s stock valued at $13,972,000 after acquiring an additional 1,809 shares in the last quarter. CPC Advisors LLC purchased a new position in Invesco Dividend Achievers ETF during the fourth quarter valued at approximately $7,851,000. Finally, Jones Financial Companies Lllp grew its stake in Invesco Dividend Achievers ETF by 6.0% during the third quarter. Jones Financial Companies Lllp now owns 148,265 shares of the company’s stock valued at $7,482,000 after acquiring an additional 8,410 shares in the last quarter.

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.