Invesco Dividend Achievers ETF (NASDAQ:PFM) Reaches New 12-Month High – What’s Next?

Invesco Dividend Achievers ETF (NASDAQ:PFM)’s stock price reached a new 52-week high on Monday . The stock traded as high as $55.90 and last traded at $55.68, with a volume of 807 shares trading hands. The stock had previously closed at $55.22.

Invesco Dividend Achievers ETF Trading Up 0.7%

The stock has a market capitalization of $789.16 million, a PE ratio of 23.20 and a beta of 0.78. The firm’s fifty day moving average price is $53.99 and its two-hundred day moving average price is $52.94.

Invesco Dividend Achievers ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Monday, March 23rd were issued a dividend of $0.1949 per share. This is a positive change from Invesco Dividend Achievers ETF’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $0.78 annualized dividend and a dividend yield of 1.4%.

Hedge Funds Weigh In On Invesco Dividend Achievers ETF

Institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. increased its holdings in 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 worth $40,765,000 after acquiring an additional 3,596 shares in the last quarter. Flaharty Asset Management LLC increased its holdings in Invesco Dividend Achievers ETF by 0.3% in the 4th quarter. Flaharty Asset Management LLC now owns 501,524 shares of the company’s stock worth $25,831,000 after acquiring an additional 1,425 shares in the last quarter. Bank of America Corp DE increased its holdings in Invesco Dividend Achievers ETF by 0.7% in the 3rd quarter. Bank of America Corp DE now owns 275,362 shares of the company’s stock worth $13,972,000 after acquiring an additional 1,809 shares in the last quarter. CPC Advisors LLC purchased a new stake in Invesco Dividend Achievers ETF in the 4th quarter worth $7,851,000. Finally, TD Waterhouse Canada Inc. increased its holdings in Invesco Dividend Achievers ETF by 5.2% in the 4th quarter. TD Waterhouse Canada Inc. now owns 99,659 shares of the company’s stock worth $5,129,000 after acquiring an additional 4,955 shares in 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.