Invesco Dividend Achievers ETF (NASDAQ:PFM) Reaches New 52-Week High – What’s Next?

Invesco Dividend Achievers ETF (NASDAQ:PFM)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as $54.73 and last traded at $54.73, with a volume of 526 shares traded. The stock had previously closed at $54.55.

Invesco Dividend Achievers ETF Price Performance

The business has a 50 day simple moving average of $52.70 and a 200 day simple moving average of $52.43. The company has a market capitalization of $776.30 million, a price-to-earnings ratio of 23.20 and a beta of 0.78.

Invesco Dividend Achievers ETF Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Monday, March 23rd were given a dividend of $0.1949 per share. This is an increase from Invesco Dividend Achievers ETF’s previous quarterly dividend of $0.18. This represents a $0.78 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, March 23rd.

Hedge Funds Weigh In On Invesco Dividend Achievers ETF

Large investors have recently bought and sold shares of the business. Fifth Third Bancorp purchased a new position in Invesco Dividend Achievers ETF in the first quarter valued at $28,000. Assetmark Inc. increased its holdings in Invesco Dividend Achievers ETF by 900.9% in the first quarter. Assetmark Inc. now owns 1,111 shares of the company’s stock valued at $57,000 after buying an additional 1,000 shares during the last quarter. Sound Income Strategies LLC acquired a new position in Invesco Dividend Achievers ETF in the fourth quarter valued at $59,000. Western Wealth Management LLC purchased a new position in shares of Invesco Dividend Achievers ETF during the first quarter worth about $77,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Invesco Dividend Achievers ETF during the fourth quarter worth about $83,000.

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.