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

Invesco Dividend Achievers ETF (NASDAQ:PFM) hit a new 52-week high during trading on Wednesday . The stock traded as high as $46.63 and last traded at $46.56, with a volume of 330396 shares changing hands. The stock had previously closed at $46.14.

Invesco Dividend Achievers ETF Price Performance

The stock has a market cap of $726.81 million, a price-to-earnings ratio of 22.62 and a beta of 0.83. The business has a fifty day moving average of $45.24 and a 200 day moving average of $43.43.

Invesco Dividend Achievers ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 23rd were paid a dividend of $0.173 per share. The ex-dividend date was Monday, September 23rd. This represents a $0.69 annualized dividend and a dividend yield of 1.48%.

Hedge Funds Weigh In On Invesco Dividend Achievers ETF

Several institutional investors have recently bought and sold shares of PFM. United Advisor Group LLC bought a new position in shares of Invesco Dividend Achievers ETF in the fourth quarter valued at approximately $333,000. Commonwealth Equity Services LLC raised its holdings in Invesco Dividend Achievers ETF by 5.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 136,083 shares of the company’s stock worth $5,793,000 after acquiring an additional 6,830 shares during the period. J.W. Cole Advisors Inc. acquired a new position in Invesco Dividend Achievers ETF during the 1st quarter worth $1,360,000. Avantax Advisory Services Inc. boosted its holdings in Invesco Dividend Achievers ETF by 18.5% during the first quarter. Avantax Advisory Services Inc. now owns 34,622 shares of the company’s stock valued at $1,474,000 after acquiring an additional 5,398 shares during the period. Finally, CreativeOne Wealth LLC boosted its holdings in Invesco Dividend Achievers ETF by 10.4% during the first quarter. CreativeOne Wealth LLC now owns 53,045 shares of the company’s stock valued at $2,258,000 after acquiring an additional 4,988 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.