Invesco Dividend Achievers ETF (NASDAQ:PFM) Sees Significant Drop in Short Interest

Invesco Dividend Achievers ETF (NASDAQ:PFM) was the target of a significant decrease in short interest in March. As of March 13th, there was short interest totaling 961 shares, a decrease of 91.6% from the February 26th total of 11,416 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 30,838 shares, the days-to-cover ratio is currently 0.0 days. Based on an average daily trading volume, of 30,838 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the shares of the stock are sold short.

Invesco Dividend Achievers ETF Stock Up 0.0%

Shares of Invesco Dividend Achievers ETF stock traded up $0.02 during trading on Tuesday, reaching $50.87. The company’s stock had a trading volume of 24,065 shares, compared to its average volume of 32,912. The company has a market cap of $734.56 million, a price-to-earnings ratio of 23.20 and a beta of 0.82. The firm’s 50-day moving average is $52.90 and its two-hundred day moving average is $51.80. Invesco Dividend Achievers ETF has a 52-week low of $40.01 and a 52-week high of $54.34.

Invesco Dividend Achievers ETF Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Monday, March 23rd will be paid a dividend of $0.1949 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 1.5%. This is a boost from Invesco Dividend Achievers ETF’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, March 23rd.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Sound Income Strategies LLC bought a new stake in Invesco Dividend Achievers ETF during the 4th quarter valued at $59,000. Allspring Global Investments Holdings LLC bought a new stake in Invesco Dividend Achievers ETF in the 4th quarter worth $83,000. International Assets Investment Management LLC purchased a new position in shares of Invesco Dividend Achievers ETF in the fourth quarter valued at about $86,000. AlphaCore Capital LLC purchased a new position in shares of Invesco Dividend Achievers ETF in the fourth quarter valued at about $99,000. Finally, Allworth Financial LP raised its stake in shares of Invesco Dividend Achievers ETF by 22.2% during the third quarter. Allworth Financial LP now owns 3,184 shares of the company’s stock valued at $162,000 after acquiring an additional 579 shares during the last quarter.

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.