Invesco Dividend Achievers ETF (NASDAQ:PFM) Reaches New 1-Year High – What’s Next?

Invesco Dividend Achievers ETF (NASDAQ:PFM) shares hit a new 52-week high during trading on Monday . The company traded as high as $56.53 and last traded at $56.53, with a volume of 749 shares. The stock had previously closed at $56.19.

Invesco Dividend Achievers ETF Stock Up 0.4%

The company has a market capitalization of $790.87 million, a PE ratio of 23.20 and a beta of 0.78. The firm has a 50-day moving average of $55.38 and a two-hundred day moving average of $53.75.

Invesco Dividend Achievers ETF Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Monday, June 22nd were paid a dividend of $0.1929 per share. 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%.

Hedge Funds Weigh In On Invesco Dividend Achievers ETF

Large investors have recently made changes to their positions in the company. CPC Advisors LLC acquired a new stake in Invesco Dividend Achievers ETF during the fourth quarter valued at $7,851,000. Cape ANN Savings Bank acquired a new position in shares of Invesco Dividend Achievers ETF in the fourth quarter worth about $783,000. Independent Financial Group LLC purchased a new stake in shares of Invesco Dividend Achievers ETF during the 1st quarter worth about $1,160,000. HighTower Advisors LLC boosted its stake 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 acquiring an additional 20,354 shares in the last quarter. Finally, SteelPeak Wealth LLC grew its position in shares of Invesco Dividend Achievers ETF by 497.3% during the 1st quarter. SteelPeak Wealth LLC now owns 53,914 shares of the company’s stock valued at $2,755,000 after acquiring an additional 44,888 shares during the period.

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.