Invesco Dividend Achievers ETF (NASDAQ:PFM) Reaches New 12-Month High – What’s Next?

Shares of Invesco Dividend Achievers ETF (NASDAQ:PFM) hit a new 52-week high during trading on Thursday . The company traded as high as $55.93 and last traded at $55.93, with a volume of 14719 shares traded. The stock had previously closed at $55.37.

Invesco Dividend Achievers ETF Stock Up 1.0%

The firm has a 50-day moving average price of $54.70 and a two-hundred day moving average price of $53.25. The company has a market capitalization of $790.29 million, a P/E ratio of 23.20 and a beta of 0.78.

Invesco Dividend Achievers ETF Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Monday, June 22nd were paid a dividend of $0.1929 per share. This represents a $0.77 annualized dividend and a yield of 1.4%. The ex-dividend date was Monday, June 22nd.

Institutional Trading of Invesco Dividend Achievers ETF

Hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. increased its holdings in shares of Invesco Dividend Achievers ETF by 0.4% during the 2nd quarter. Raymond James Financial Inc. now owns 846,279 shares of the company’s stock worth $40,765,000 after purchasing an additional 3,596 shares during the period. Flaharty Asset Management LLC grew its position 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 worth $25,831,000 after buying an additional 1,425 shares in the last quarter. Bank of America Corp DE grew its position 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 worth $13,972,000 after buying an additional 1,809 shares in the last quarter. CPC Advisors LLC bought a new position in Invesco Dividend Achievers ETF during the fourth quarter valued at about $7,851,000. Finally, TD Waterhouse Canada Inc. increased its stake in Invesco Dividend Achievers ETF by 5.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 99,659 shares of the company’s stock valued at $5,129,000 after acquiring an additional 4,955 shares during the period.

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.