Invesco Dividend Achievers ETF (NASDAQ:PFM) Sets New 1-Year High – Should You Buy?

Invesco Dividend Achievers ETF (NASDAQ:PFM)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $57.73 and last traded at $57.73, with a volume of 1213 shares changing hands. The stock had previously closed at $57.61.

Invesco Dividend Achievers ETF Trading Up 0.2%

The firm has a market capitalization of $809.09 million, a price-to-earnings ratio of 23.20 and a beta of 0.77. The firm has a fifty day moving average price of $55.79 and a 200 day moving average price of $54.05.

Invesco Dividend Achievers ETF Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Monday, June 22nd were given a $0.1929 dividend. The ex-dividend date was Monday, June 22nd. This represents a $0.77 annualized dividend and a yield of 1.3%.

Hedge Funds Weigh In On Invesco Dividend Achievers ETF

Institutional investors and hedge funds have recently bought and sold shares of the business. Fifth Third Bancorp acquired a new stake in shares of Invesco Dividend Achievers ETF in the first quarter valued at $28,000. City Holding Co. acquired a new position in Invesco Dividend Achievers ETF during the 2nd quarter worth about $58,000. Assetmark Inc. lifted its position in Invesco Dividend Achievers ETF by 900.9% during the 1st quarter. Assetmark Inc. now owns 1,111 shares of the company’s stock worth $57,000 after buying an additional 1,000 shares in the last quarter. Sound Income Strategies LLC bought a new stake in Invesco Dividend Achievers ETF during the 4th quarter worth about $59,000. Finally, Western Wealth Management LLC bought a new stake in Invesco Dividend Achievers ETF during the 1st quarter worth about $77,000.

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. 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.