Invesco Dividend Achievers ETF (NASDAQ:PFM) Sees Large Decline in Short Interest

Invesco Dividend Achievers ETF (NASDAQ:PFM) was the recipient of a large decrease in short interest in May. As of May 15th, there was short interest totaling 481 shares, a decrease of 90.4% from the April 30th total of 5,027 shares. Based on an average daily volume of 24,804 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the shares of the stock are sold short.

Invesco Dividend Achievers ETF Trading Up 0.4%

Shares of PFM traded up $0.23 during midday trading on Thursday, reaching $55.20. The stock had a trading volume of 7,489 shares, compared to its average volume of 29,267. The company’s 50-day moving average is $52.95 and its 200 day moving average is $52.56. Invesco Dividend Achievers ETF has a 12-month low of $46.15 and a 12-month high of $55.22. The company has a market capitalization of $779.98 million, a price-to-earnings ratio of 23.20 and a beta of 0.78.

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 issued a $0.1949 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Monday, March 23rd. This is an increase from Invesco Dividend Achievers ETF’s previous quarterly dividend of $0.18.

Hedge Funds Weigh In On Invesco Dividend Achievers ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. Fifth Third Bancorp purchased a new position in shares of Invesco Dividend Achievers ETF in the 1st quarter worth about $28,000. Assetmark Inc. lifted its stake in shares of Invesco Dividend Achievers ETF by 900.9% in the 1st quarter. Assetmark Inc. now owns 1,111 shares of the company’s stock valued at $57,000 after acquiring an additional 1,000 shares during the last quarter. Sound Income Strategies LLC bought a new stake in shares of Invesco Dividend Achievers ETF in the 4th quarter valued at about $59,000. Western Wealth Management LLC bought a new stake in shares of Invesco Dividend Achievers ETF in the 1st quarter valued at about $77,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Invesco Dividend Achievers ETF in the 4th quarter valued at about $83,000.

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.