Invesco Dividend Achievers ETF (NASDAQ:PFM) Sees Strong Trading Volume – Time to Buy?

Invesco Dividend Achievers ETF (NASDAQ:PFM) shares saw unusually-high trading volume on Thursday . Approximately 41,915 shares changed hands during mid-day trading, an increase of 29% from the previous session’s volume of 32,453 shares.The stock last traded at $52.26 and had previously closed at $52.03.

Invesco Dividend Achievers ETF Stock Up 0.7%

The stock has a 50 day moving average of $51.47 and a 200 day moving average of $50.30. The company has a market capitalization of $770.27 million, a price-to-earnings ratio of 23.20 and a beta of 0.82.

Invesco Dividend Achievers ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 26th. Shareholders of record on Monday, December 22nd were paid a $0.185 dividend. This is an increase from Invesco Dividend Achievers ETF’s previous quarterly dividend of $0.17. This represents a $0.74 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Monday, December 22nd.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PFM. Raymond James Financial Inc. boosted its stake in shares of Invesco Dividend Achievers ETF by 0.4% in the 2nd quarter. Raymond James Financial Inc. now owns 846,279 shares of the company’s stock valued at $40,765,000 after purchasing an additional 3,596 shares in the last quarter. Flaharty Asset Management LLC bought a new stake in Invesco Dividend Achievers ETF in the third quarter worth $25,379,000. Bank of America Corp DE lifted its stake in Invesco Dividend Achievers ETF by 0.7% in the third quarter. Bank of America Corp DE now owns 275,362 shares of the company’s stock worth $13,972,000 after purchasing an additional 1,809 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in Invesco Dividend Achievers ETF by 6.0% in the third quarter. Jones Financial Companies Lllp now owns 148,265 shares of the company’s stock worth $7,482,000 after purchasing an additional 8,410 shares during the last quarter. Finally, Focus Financial Network Inc. grew its stake in shares of Invesco Dividend Achievers ETF by 0.4% during the second quarter. Focus Financial Network Inc. now owns 113,378 shares of the company’s stock valued at $5,461,000 after buying an additional 459 shares during the last quarter.

About Invesco Dividend Achievers ETF

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.