LPL Financial LLC Has $73.22 Million Stock Position in Invesco Dividend Achievers ETF (NASDAQ:PFM)

LPL Financial LLC lessened its stake in Invesco Dividend Achievers ETF (NASDAQ:PFM) by 21.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,596,507 shares of the company’s stock after selling 439,893 shares during the quarter. LPL Financial LLC owned about 10.44% of Invesco Dividend Achievers ETF worth $73,216,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PFM. Stifel Financial Corp boosted its holdings in shares of Invesco Dividend Achievers ETF by 86.4% in the 3rd quarter. Stifel Financial Corp now owns 20,255 shares of the company’s stock valued at $943,000 after purchasing an additional 9,387 shares in the last quarter. JPMorgan Chase & Co. grew its position in Invesco Dividend Achievers ETF by 12.3% in the third quarter. JPMorgan Chase & Co. now owns 36,798 shares of the company’s stock valued at $1,713,000 after acquiring an additional 4,036 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Invesco Dividend Achievers ETF during the fourth quarter worth about $38,194,000. Modera Wealth Management LLC acquired a new stake in shares of Invesco Dividend Achievers ETF in the 4th quarter valued at approximately $206,000. Finally, ST Germain D J Co. Inc. acquired a new stake in shares of Invesco Dividend Achievers ETF in the 4th quarter valued at approximately $55,000.

Invesco Dividend Achievers ETF Price Performance

PFM stock opened at $45.89 on Thursday. The stock has a market cap of $701.66 million, a price-to-earnings ratio of 23.86 and a beta of 0.83. The company has a 50 day simple moving average of $47.00 and a 200 day simple moving average of $46.75. Invesco Dividend Achievers ETF has a 1 year low of $40.43 and a 1 year high of $48.28.

Invesco Dividend Achievers ETF Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 24th will be paid a $0.1793 dividend. The ex-dividend date of this dividend is Monday, March 24th.

Invesco Dividend Achievers ETF 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.