Invesco Dividend Achievers ETF (NASDAQ:PFM) Reaches New 52-Week High – Time to Buy?

Invesco Dividend Achievers ETF (NASDAQ:PFM) hit a new 52-week high on Monday . The stock traded as high as $56.53 and last traded at $56.53, with a volume of 749 shares. The stock had previously closed at $56.19.

Invesco Dividend Achievers ETF Stock Up 0.4%

The firm has a market cap of $790.87 million, a PE ratio of 23.20 and a beta of 0.78. The stock has a 50 day moving average price of $55.38 and a two-hundred day moving average price of $53.75.

Invesco Dividend Achievers ETF Dividend Announcement

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

Institutional Investors Weigh In On Invesco Dividend Achievers ETF

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Fifth Third Bancorp acquired a new position in shares of Invesco Dividend Achievers ETF in the first quarter valued at about $28,000. Assetmark Inc. raised 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 during the last quarter. City Holding Co. purchased a new stake in shares of Invesco Dividend Achievers ETF in the 2nd quarter valued at $58,000. Sound Income Strategies LLC acquired a new stake in shares of Invesco Dividend Achievers ETF in the fourth quarter worth $59,000. Finally, Western Wealth Management LLC acquired a new stake in shares of Invesco Dividend Achievers ETF in the first quarter worth $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.