Invesco Dividend Achievers ETF (NASDAQ:PFM) Reaches New 52-Week High – Here’s Why

Invesco Dividend Achievers ETF (NASDAQ:PFM)’s share price 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 Trading Up 0.7 %

The company has a market capitalization of $729.61 million, a PE ratio of 22.62 and a beta of 0.83. The firm’s 50-day simple moving average is $45.33 and its 200-day simple moving average is $43.48.

Invesco Dividend Achievers ETF Cuts Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Planning grew its stake 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 acquiring an additional 256 shares during the period. Citizens Financial Group Inc. RI boosted its holdings in Invesco Dividend Achievers ETF by 0.4% in the 1st quarter. Citizens Financial Group Inc. RI now owns 117,672 shares of the company’s stock worth $5,009,000 after buying an additional 415 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of Invesco Dividend Achievers ETF during the second quarter valued at approximately $34,000. Bank of Montreal Can lifted its position 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 valued at $756,000 after acquiring an additional 869 shares in the last quarter. Finally, J.W. Cole Advisors Inc. boosted its stake in shares of Invesco Dividend Achievers ETF by 3.0% in 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 last quarter.

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.