Short Interest in Invesco Dividend Achievers ETF (NASDAQ:PFM) Grows By 978.4%

Invesco Dividend Achievers ETF (NASDAQ:PFM) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totalling 79,800 shares, a growth of 978.4% from the August 31st total of 7,400 shares. Based on an average daily volume of 26,000 shares, the days-to-cover ratio is currently 3.1 days.

Institutional Trading of Invesco Dividend Achievers ETF

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Cetera Investment Advisers boosted its holdings in Invesco Dividend Achievers ETF by 11.3% in the 2nd quarter. Cetera Investment Advisers now owns 52,633 shares of the company’s stock worth $2,246,000 after buying an additional 5,336 shares during the last quarter. Creative Planning increased its holdings in Invesco Dividend Achievers ETF by 2.8% in the 2nd quarter. Creative Planning now owns 9,313 shares of the company’s stock valued at $397,000 after purchasing an additional 256 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Invesco Dividend Achievers ETF by 5.2% in the second quarter. Bank of Montreal Can now owns 17,637 shares of the company’s stock worth $756,000 after buying an additional 869 shares during the last quarter. J.W. Cole Advisors Inc. raised its stake in Invesco Dividend Achievers ETF by 3.0% during the second quarter. J.W. Cole Advisors Inc. now owns 32,902 shares of the company’s stock worth $1,404,000 after acquiring an additional 946 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Invesco Dividend Achievers ETF in the second quarter worth $61,000.

Invesco Dividend Achievers ETF Stock Performance

NASDAQ:PFM traded down $0.19 during trading on Wednesday, reaching $46.08. The company’s stock had a trading volume of 20,381 shares, compared to its average volume of 27,232. The firm has a 50 day moving average of $44.81 and a 200-day moving average of $43.14. Invesco Dividend Achievers ETF has a 12 month low of $35.18 and a 12 month high of $46.50. The firm has a market cap of $699.49 million, a price-to-earnings ratio of 22.62 and a beta of 0.83.

Invesco Dividend Achievers ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Monday, September 23rd will be issued a $0.173 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Monday, September 23rd.

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.