Invesco Dividend Achievers ETF (NASDAQ:PFM) Reaches New 52-Week High – Here’s Why

Invesco Dividend Achievers ETF (NASDAQ:PFM) hit a new 52-week high on Thursday . The stock traded as high as $55.93 and last traded at $55.93, with a volume of 14719 shares changing hands. The stock had previously closed at $55.37.

Invesco Dividend Achievers ETF Price Performance

The business’s 50 day simple moving average is $54.79 and its 200-day simple moving average is $53.30. The stock has a market capitalization of $783.71 million, a P/E ratio of 23.20 and a beta of 0.78.

Invesco Dividend Achievers ETF Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Monday, June 22nd were paid a $0.1929 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $0.77 dividend on an annualized basis and a dividend yield of 1.4%.

Institutional Investors Weigh In On Invesco Dividend Achievers ETF

A number of institutional investors have recently made changes to their positions in PFM. CPC Advisors LLC acquired a new position in Invesco Dividend Achievers ETF in the fourth quarter valued at about $7,851,000. SteelPeak Wealth LLC boosted its holdings in Invesco Dividend Achievers ETF by 497.3% during the first quarter. SteelPeak Wealth LLC now owns 53,914 shares of the company’s stock worth $2,755,000 after buying an additional 44,888 shares during the last quarter. Independent Financial Group LLC acquired a new position in shares of Invesco Dividend Achievers ETF during the 1st quarter worth about $1,160,000. HighTower Advisors LLC grew its position in shares of Invesco Dividend Achievers ETF by 55.9% during the 4th quarter. HighTower Advisors LLC now owns 56,787 shares of the company’s stock worth $2,925,000 after buying an additional 20,354 shares during the period. Finally, Lido Advisors LLC acquired a new position in shares of Invesco Dividend Achievers ETF during the 3rd quarter worth about $852,000.

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.