Invesco Dividend Achievers ETF (NASDAQ:PFM) Reaches New 52-Week High – Still a Buy?

Invesco Dividend Achievers ETF (NASDAQ:PFM)’s stock price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $56.38 and last traded at $56.38, with a volume of 756 shares. The stock had previously closed at $56.21.

Invesco Dividend Achievers ETF Price Performance

The company has a market cap of $790.17 million, a PE ratio of 23.20 and a beta of 0.78. The stock has a 50 day simple moving average of $55.17 and a two-hundred day simple moving average of $53.57.

Invesco Dividend Achievers ETF Announces Dividend

The firm also recently announced 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. This represents a $0.77 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, June 22nd.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. City Holding Co. acquired a new stake in Invesco Dividend Achievers ETF in the 2nd quarter valued at $58,000. Focus Financial Network Inc. boosted its stake 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 valued at $6,300,000 after acquiring an additional 326 shares during the last quarter. Eastern Bank raised its stake in Invesco Dividend Achievers ETF by 128.4% during the second quarter. Eastern Bank now owns 12,569 shares of the company’s stock valued at $697,000 after buying an additional 7,067 shares in the last quarter. Western Wealth Management LLC acquired a new position in Invesco Dividend Achievers ETF in the first quarter worth $77,000. Finally, Royal Bank of Canada boosted its holdings in shares of Invesco Dividend Achievers ETF by 4.4% in the 1st quarter. Royal Bank of Canada now owns 73,958 shares of the company’s stock valued at $3,778,000 after buying an additional 3,114 shares during the period.

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. 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.