Invesco Dividend Achievers ETF (NASDAQ:PFM) Sets New 52-Week High – Should You Buy?

Invesco Dividend Achievers ETF (NASDAQ:PFM)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $54.42 and last traded at $54.42, with a volume of 2028 shares traded. The stock had previously closed at $54.07.

Invesco Dividend Achievers ETF Price Performance

The company has a market capitalization of $766.13 million, a PE ratio of 23.20 and a beta of 0.78. The business has a 50-day moving average of $52.55 and a 200 day moving average of $52.33.

Invesco Dividend Achievers ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 23rd were given a $0.1949 dividend. This is an increase from Invesco Dividend Achievers ETF’s previous quarterly dividend of $0.18. 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.

Institutional Investors Weigh In On Invesco Dividend Achievers ETF

A number of hedge funds have recently made changes to their positions in PFM. Raymond James Financial Inc. lifted its position in shares of Invesco Dividend Achievers ETF by 0.4% in the second quarter. Raymond James Financial Inc. now owns 846,279 shares of the company’s stock worth $40,765,000 after buying an additional 3,596 shares in the last quarter. IHT Wealth Management LLC lifted its position in shares of Invesco Dividend Achievers ETF by 13.7% in the second quarter. IHT Wealth Management LLC now owns 8,754 shares of the company’s stock worth $422,000 after buying an additional 1,052 shares in the last quarter. MML Investors Services LLC lifted its position in shares of Invesco Dividend Achievers ETF by 3.0% in the second quarter. MML Investors Services LLC now owns 66,062 shares of the company’s stock worth $3,182,000 after buying an additional 1,943 shares in the last quarter. Advisory Services Network LLC lifted its position in shares of Invesco Dividend Achievers ETF by 5.1% in the second quarter. Advisory Services Network LLC now owns 12,373 shares of the company’s stock worth $599,000 after buying an additional 597 shares in the last quarter. Finally, Sovran Advisors LLC lifted its position in shares of Invesco Dividend Achievers ETF by 10.4% in the third quarter. Sovran Advisors LLC now owns 5,245 shares of the company’s stock worth $267,000 after buying an additional 496 shares in the last quarter.

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.