Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY) Sets New 52-Week High – Time to Buy?

Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $22.57 and last traded at $22.56, with a volume of 21705 shares trading hands. The stock had previously closed at $22.40.

Invesco High Yield Equity Dividend Achievers ETF Trading Up 0.7%

The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 13.11 and a beta of 0.66. The business has a 50-day moving average price of $21.68 and a two-hundred day moving average price of $21.26.

Invesco High Yield Equity Dividend Achievers ETF Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 18th were paid a dividend of $0.0906 per share. This represents a c) dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Monday, May 18th. This is an increase from Invesco High Yield Equity Dividend Achievers ETF’s previous monthly dividend of $0.08.

Institutional Investors Weigh In On Invesco High Yield Equity Dividend Achievers ETF

A number of hedge funds have recently added to or reduced their stakes in PEY. Aspire Capital Advisors LLC grew its position in shares of Invesco High Yield Equity Dividend Achievers ETF by 109.0% during the fourth quarter. Aspire Capital Advisors LLC now owns 50,202 shares of the company’s stock worth $1,023,000 after acquiring an additional 26,186 shares during the last quarter. Good Steward Wealth Advisors LLC increased its holdings in shares of Invesco High Yield Equity Dividend Achievers ETF by 15.0% in the 4th quarter. Good Steward Wealth Advisors LLC now owns 218,798 shares of the company’s stock worth $4,460,000 after acquiring an additional 28,604 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Invesco High Yield Equity Dividend Achievers ETF by 155.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 268,216 shares of the company’s stock valued at $5,469,000 after purchasing an additional 163,387 shares during the last quarter. Signal Advisors Wealth LLC bought a new stake in Invesco High Yield Equity Dividend Achievers ETF in the 4th quarter valued at about $214,000. Finally, Stolper Co boosted its stake in Invesco High Yield Equity Dividend Achievers ETF by 1.8% during the 4th quarter. Stolper Co now owns 30,267 shares of the company’s stock valued at $617,000 after purchasing an additional 548 shares during the period.

About Invesco High Yield Equity Dividend Achievers ETF

PowerShares High Yield Equity Dividend Achiever Portfolio (the Fund) is based on the Mergent Dividend Achiever 50 Index (the Index). The Fund focuses to invest at least 90% of its total assets in dividend paying common stocks, which comprise the Index. The Index is comprised of 50 stocks selected principally on the basis of dividend yield and consistent growth in dividends. The Funds sector allocation includes consumers discretionary, consumer staples, energy, financials, healthcare, industrials, information technology, materials and telecommunication services.