Invesco Dividend Achievers ETF (NASDAQ:PFM) Hits New 12-Month High – Time to Buy?

Invesco Dividend Achievers ETF (NASDAQ:PFM) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $55.90 and last traded at $55.68, with a volume of 807 shares changing hands. The stock had previously closed at $55.22.

Invesco Dividend Achievers ETF Trading Up 0.0%

The stock has a 50-day simple moving average of $54.17 and a 200-day simple moving average of $52.99. The company has a market capitalization of $786.48 million, a price-to-earnings ratio of 23.20 and a beta of 0.78.

Invesco Dividend Achievers ETF Increases Dividend

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

Institutional Investors Weigh In On Invesco Dividend Achievers ETF

Institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp bought a new stake in shares of Invesco Dividend Achievers ETF in the 1st quarter valued at approximately $28,000. Assetmark Inc. increased its holdings in shares of Invesco Dividend Achievers ETF by 900.9% in the 1st quarter. Assetmark Inc. now owns 1,111 shares of the company’s stock valued at $57,000 after acquiring an additional 1,000 shares during the last quarter. Sound Income Strategies LLC bought a new stake in shares of Invesco Dividend Achievers ETF in the 4th quarter valued at approximately $59,000. Western Wealth Management LLC bought a new stake in shares of Invesco Dividend Achievers ETF in the 1st quarter valued at approximately $77,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Invesco Dividend Achievers ETF in the 4th quarter valued at approximately $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.