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

Shares of Invesco Dividend Achievers ETF (NASDAQ:PFM) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $57.29 and last traded at $57.28, with a volume of 24226 shares traded. The stock had previously closed at $56.57.

Invesco Dividend Achievers ETF Stock Up 1.3%

The company has a market cap of $803.77 million, a P/E ratio of 23.20 and a beta of 0.78. The company has a 50 day moving average price of $55.60 and a 200-day moving average price of $53.92.

Invesco Dividend Achievers ETF Announces Dividend

The business also recently announced 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 of this dividend was Monday, June 22nd. This represents a $0.77 annualized dividend and a yield of 1.3%.

Institutional Trading of Invesco Dividend Achievers ETF

Institutional investors have recently made changes to their positions in the stock. Fifth Third Bancorp acquired a new position in shares of Invesco Dividend Achievers ETF during the first quarter valued at approximately $28,000. Assetmark Inc. lifted its position in Invesco Dividend Achievers ETF by 900.9% in the first quarter. Assetmark Inc. now owns 1,111 shares of the company’s stock worth $57,000 after purchasing an additional 1,000 shares during the period. City Holding Co. acquired a new stake in Invesco Dividend Achievers ETF in the second quarter worth approximately $58,000. Sound Income Strategies LLC bought a new position in Invesco Dividend Achievers ETF during the 4th quarter valued at $59,000. Finally, Western Wealth Management LLC bought a new position in Invesco Dividend Achievers ETF during the 1st quarter valued at $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.