Invesco Dividend Achievers ETF (NASDAQ:PFM) Hits New 1-Year High – Should You Buy?

Invesco Dividend Achievers ETF (NASDAQ:PFM)’s stock price reached a new 52-week high on Monday . The company traded as high as $52.74 and last traded at $52.7260, with a volume of 6833 shares traded. The stock had previously closed at $52.65.

Invesco Dividend Achievers ETF Stock Up 0.4%

The company has a market cap of $773.20 million, a PE ratio of 23.20 and a beta of 0.82. The business’s fifty day moving average is $51.52 and its 200-day moving average is $50.38.

Invesco Dividend Achievers ETF Increases Dividend

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

Institutional Trading of Invesco Dividend Achievers ETF

Several hedge funds and other institutional investors have recently made changes to their positions in PFM. CWM LLC lifted its position in Invesco Dividend Achievers ETF by 58.0% during the second quarter. CWM LLC now owns 689 shares of the company’s stock valued at $33,000 after purchasing an additional 253 shares during the period. 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 worth $162,000 after purchasing an additional 579 shares during the last quarter. Briaud Financial Planning Inc purchased a new stake in shares of Invesco Dividend Achievers ETF during the 2nd quarter worth $187,000. Sovran Advisors LLC acquired a new stake in shares of Invesco Dividend Achievers ETF in the second quarter valued at approximately $231,000. Finally, Caldwell Trust Co purchased a new stake in Invesco Dividend Achievers ETF in the second quarter valued at approximately $296,000.

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.