Invesco BuyBack Achievers ETF (NASDAQ:PKW) Sees Strong Trading Volume – What’s Next?

Invesco BuyBack Achievers ETF (NASDAQ:PKW) shares saw unusually-high trading volume on Monday. 69,297 shares changed hands during mid-day trading, an increase of 135% from the average daily volume of 29,427 shares. The stock last traded at $152.0410 and had previously closed at $150.53.

Invesco BuyBack Achievers ETF Price Performance

The company has a market cap of $1.75 billion, a PE ratio of 15.13 and a beta of 0.92. The business’s 50 day moving average is $148.99 and its 200-day moving average is $141.43.

Invesco BuyBack Achievers ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Monday, September 21st were issued a $0.2183 dividend. This represents a $0.87 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Monday, September 21st. This is a negative change from Invesco BuyBack Achievers ETF’s previous quarterly dividend of $0.2575.

Institutional Investors Weigh In On Invesco BuyBack Achievers ETF

Several institutional investors have recently modified their holdings of PKW. Envestnet Asset Management Inc. grew its stake in shares of Invesco BuyBack Achievers ETF by 173.4% during the second quarter. Envestnet Asset Management Inc. now owns 192,831 shares of the exchange traded fund’s stock worth $27,316,000 after purchasing an additional 122,311 shares in the last quarter. Koshinski Asset Management Inc. increased its holdings in Invesco BuyBack Achievers ETF by 13.3% in the first quarter. Koshinski Asset Management Inc. now owns 79,528 shares of the exchange traded fund’s stock valued at $10,438,000 after buying an additional 9,344 shares during the last quarter. Triton Wealth Management PLLC raised its stake in Invesco BuyBack Achievers ETF by 1.6% in the first quarter. Triton Wealth Management PLLC now owns 72,054 shares of the exchange traded fund’s stock valued at $9,529,000 after buying an additional 1,120 shares in the last quarter. Resonant Capital Advisors LLC raised its stake in Invesco BuyBack Achievers ETF by 2.3% in the first quarter. Resonant Capital Advisors LLC now owns 61,405 shares of the exchange traded fund’s stock valued at $8,059,000 after buying an additional 1,406 shares in the last quarter. Finally, Cetera Investment Advisers raised its stake in Invesco BuyBack Achievers ETF by 6.1% in the first quarter. Cetera Investment Advisers now owns 61,132 shares of the exchange traded fund’s stock valued at $8,024,000 after buying an additional 3,522 shares in the last quarter.

Invesco BuyBack Achievers ETF Company Profile

PowerShares Buyback Achievers Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Share BuyBack Achievers Index (the Index). The Index is designed to track the performance of companies that meet the requirements to be classified as BuyBack Achievers. To become eligible for inclusion in the Index, a company must be incorporated in the United States, trade on a United States exchange and must have repurchased at least 5% or more of its outstanding shares for the trailing 12 months.