Invesco Dividend Achievers ETF (NASDAQ:PFM) Hits New 12-Month High – Here’s What Happened

Shares of Invesco Dividend Achievers ETF (NASDAQ:PFM) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $56.38 and last traded at $56.38, with a volume of 756 shares. The stock had previously closed at $56.21.

Invesco Dividend Achievers ETF Trading Up 0.2%

The stock has a market cap of $790.17 million, a PE ratio of 23.20 and a beta of 0.78. The business has a 50-day moving average price of $55.17 and a 200-day moving average price of $53.57.

Invesco Dividend Achievers ETF Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Monday, June 22nd were issued a dividend of $0.1929 per share. This represents a $0.77 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Monday, June 22nd.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PFM. CPC Advisors LLC purchased a new position in Invesco Dividend Achievers ETF in the 4th quarter valued at approximately $7,851,000. SteelPeak Wealth LLC increased its position in shares of Invesco Dividend Achievers ETF by 497.3% during the first quarter. SteelPeak Wealth LLC now owns 53,914 shares of the company’s stock worth $2,755,000 after acquiring an additional 44,888 shares during the period. Independent Financial Group LLC acquired a new stake in shares of Invesco Dividend Achievers ETF in the first quarter valued at $1,160,000. HighTower Advisors LLC raised its stake in shares of Invesco Dividend Achievers ETF by 55.9% in the fourth quarter. HighTower Advisors LLC now owns 56,787 shares of the company’s stock valued at $2,925,000 after acquiring an additional 20,354 shares in the last quarter. Finally, Lido Advisors LLC purchased a new position in Invesco Dividend Achievers ETF in the third quarter valued at $852,000.

About Invesco Dividend Achievers ETF

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.