Invesco Dividend Achievers ETF (NASDAQ:PFM) Sets New 12-Month High – Here’s Why

Invesco Dividend Achievers ETF (NASDAQ:PFM)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $56.26 and last traded at $56.08, with a volume of 17889 shares traded. The stock had previously closed at $55.98.

Invesco Dividend Achievers ETF Stock Up 0.2%

The firm has a fifty day moving average of $54.88 and a 200-day moving average of $53.37. The stock has a market capitalization of $787.36 million, a price-to-earnings ratio of 23.20 and a beta of 0.78.

Invesco Dividend Achievers ETF Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Monday, June 22nd were given a $0.1929 dividend. This represents a $0.77 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, June 22nd.

Institutional Trading of Invesco Dividend Achievers ETF

Several hedge funds and other institutional investors have recently bought and sold shares of PFM. Fifth Third Bancorp acquired a new position in Invesco Dividend Achievers ETF in the 1st quarter valued at $28,000. Assetmark Inc. grew its position in shares of Invesco Dividend Achievers ETF by 900.9% in the first quarter. Assetmark Inc. now owns 1,111 shares of the company’s stock valued at $57,000 after purchasing an additional 1,000 shares during the period. Sound Income Strategies LLC purchased a new stake in shares of Invesco Dividend Achievers ETF in the fourth quarter valued at $59,000. Western Wealth Management LLC acquired a new position in Invesco Dividend Achievers ETF in the first quarter valued at $77,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in Invesco Dividend Achievers ETF during the fourth quarter worth 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.