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

Shares of Invesco Dividend Achievers ETF (NASDAQ:PFM) hit a new 52-week high on Tuesday . The stock traded as high as $57.29 and last traded at $57.28, with a volume of 24226 shares trading hands. The stock had previously closed at $56.57.

Invesco Dividend Achievers ETF Stock Up 1.3%

The firm’s 50-day simple moving average is $55.60 and its 200 day simple moving average is $53.92. The stock has a market capitalization of $803.77 million, a P/E ratio of 23.20 and a beta of 0.78.

Invesco Dividend Achievers ETF Announces Dividend

The firm also recently disclosed 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 annualized dividend and a dividend yield of 1.3%.

Institutional Trading of Invesco Dividend Achievers ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CPC Advisors LLC acquired a new position in shares of Invesco Dividend Achievers ETF in the fourth quarter worth about $7,851,000. SteelPeak Wealth LLC raised its holdings in shares of Invesco Dividend Achievers ETF by 497.3% during the first 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. Independent Financial Group LLC purchased a new stake in shares of Invesco Dividend Achievers ETF in the 1st quarter valued at approximately $1,160,000. HighTower Advisors LLC lifted its position in shares of Invesco Dividend Achievers ETF by 55.9% in the 4th quarter. HighTower Advisors LLC now owns 56,787 shares of the company’s stock valued at $2,925,000 after acquiring an additional 20,354 shares in the last quarter. Finally, Lido Advisors LLC purchased a new stake in shares of Invesco Dividend Achievers ETF in the 3rd quarter valued at approximately $852,000.

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.