Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY) Sets New 1-Year High – Here’s Why

Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $24.11 and last traded at $24.10, with a volume of 34316 shares changing hands. The stock had previously closed at $23.77.

Invesco High Yield Equity Dividend Achievers ETF Stock Performance

The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 13.11 and a beta of 0.66. The company’s 50 day simple moving average is $22.87 and its 200 day simple moving average is $21.99.

Invesco High Yield Equity Dividend Achievers ETF Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, June 26th. Stockholders of record on Monday, June 22nd were issued a $0.0951 dividend. The ex-dividend date was Monday, June 22nd. This represents a c) annualized dividend and a dividend yield of 4.6%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Cardiff Park Advisors LLC acquired a new stake in Invesco High Yield Equity Dividend Achievers ETF in the first quarter worth approximately $27,000. Spire Wealth Management boosted its stake in Invesco High Yield Equity Dividend Achievers ETF by 700.0% during the 4th quarter. Spire Wealth Management now owns 1,720 shares of the company’s stock valued at $35,000 after purchasing an additional 1,505 shares in the last quarter. Palisade Asset Management LLC acquired a new position in shares of Invesco High Yield Equity Dividend Achievers ETF during the 3rd quarter valued at $82,000. Glenmede Trust Co. NA acquired a new position in shares of Invesco High Yield Equity Dividend Achievers ETF during the 1st quarter valued at $86,000. Finally, Private Trust Co. NA raised its stake in shares of Invesco High Yield Equity Dividend Achievers ETF by 25.9% in the 4th quarter. Private Trust Co. NA now owns 5,161 shares of the company’s stock worth $105,000 after buying an additional 1,062 shares in the last quarter.

About Invesco High Yield Equity Dividend Achievers ETF

PowerShares High Yield Equity Dividend Achiever Portfolio (the Fund) is based on the Mergent Dividend Achiever 50 Index (the Index). The Fund focuses to invest at least 90% of its total assets in dividend paying common stocks, which comprise the Index. The Index is comprised of 50 stocks selected principally on the basis of dividend yield and consistent growth in dividends. The Funds sector allocation includes consumers discretionary, consumer staples, energy, financials, healthcare, industrials, information technology, materials and telecommunication services.