Invesco Dividend Achievers ETF (NASDAQ:PFM) Hits New 52-Week High – Here’s What Happened

Shares of Invesco Dividend Achievers ETF (NASDAQ:PFM) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $57.73 and last traded at $57.73, with a volume of 1213 shares. The stock had previously closed at $57.61.

Invesco Dividend Achievers ETF Price Performance

The company’s 50 day moving average price is $55.79 and its 200 day moving average price is $54.05. The firm has a market capitalization of $809.09 million, a P/E ratio of 23.20 and a beta of 0.77.

Invesco Dividend Achievers ETF Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Monday, June 22nd were issued a dividend of $0.1929 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $0.77 annualized dividend and a yield of 1.3%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PFM. Waverly Advisors LLC lifted its position in Invesco Dividend Achievers ETF by 0.4% in the 1st quarter. Waverly Advisors LLC now owns 46,732 shares of the company’s stock valued at $2,388,000 after acquiring an additional 192 shares in the last quarter. Sovran Advisors LLC increased its holdings in Invesco Dividend Achievers ETF by 4.0% during the 1st quarter. Sovran Advisors LLC now owns 5,711 shares of the company’s stock worth $309,000 after purchasing an additional 222 shares in the last quarter. Focus Financial Network Inc. increased its holdings in Invesco Dividend Achievers ETF by 0.3% during the 2nd quarter. Focus Financial Network Inc. now owns 113,600 shares of the company’s stock worth $6,300,000 after purchasing an additional 326 shares in the last quarter. Cetera Investment Advisers increased its holdings in Invesco Dividend Achievers ETF by 0.4% during the 4th quarter. Cetera Investment Advisers now owns 93,536 shares of the company’s stock worth $4,818,000 after purchasing an additional 378 shares in the last quarter. Finally, Creative Planning raised its stake in shares of Invesco Dividend Achievers ETF by 4.4% in the 3rd quarter. Creative Planning now owns 9,820 shares of the company’s stock valued at $498,000 after purchasing an additional 416 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.