Invesco Dividend Achievers ETF (NASDAQ:PFM) Sets New 12-Month High – Here’s Why

Invesco Dividend Achievers ETF (NASDAQ:PFM)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $51.61 and last traded at $51.6060, with a volume of 3238 shares changing hands. The stock had previously closed at $51.31.

Invesco Dividend Achievers ETF Trading Up 0.5%

The firm has a market capitalization of $741.86 million, a price-to-earnings ratio of 23.20 and a beta of 0.82. The stock’s 50-day moving average is $50.69 and its 200-day moving average is $48.77.

Invesco Dividend Achievers ETF Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Monday, September 22nd were issued a dividend of $0.1719 per share. The ex-dividend date was Monday, September 22nd. This represents a $0.69 annualized dividend and a dividend yield of 1.3%.

Institutional Investors Weigh In On Invesco Dividend Achievers ETF

Hedge funds and other institutional investors have recently bought and sold shares of the company. Flaharty Asset Management LLC acquired a new position in Invesco Dividend Achievers ETF in the 3rd quarter worth about $25,379,000. LPL Financial LLC grew its holdings in shares of Invesco Dividend Achievers ETF by 4.3% during the first quarter. LPL Financial LLC now owns 1,664,500 shares of the company’s stock worth $76,201,000 after purchasing an additional 67,993 shares during the last quarter. Kingswood Wealth Advisors LLC acquired a new position in shares of Invesco Dividend Achievers ETF in the third quarter valued at approximately $2,302,000. TD Waterhouse Canada Inc. increased its stake in shares of Invesco Dividend Achievers ETF by 36.7% in the second quarter. TD Waterhouse Canada Inc. now owns 95,087 shares of the company’s stock valued at $4,611,000 after buying an additional 25,516 shares during the period. Finally, Truvestments Capital LLC bought a new position in Invesco Dividend Achievers ETF in the 1st quarter valued at approximately $766,000.

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.