Invesco Dividend Achievers ETF (NASDAQ:PFM) Sets New 1-Year High – Here’s What Happened

Invesco Dividend Achievers ETF (NASDAQ:PFM) hit a new 52-week high during trading on Thursday . The stock traded as high as $47.41 and last traded at $47.29, with a volume of 1815 shares trading hands. The stock had previously closed at $47.25.

Invesco Dividend Achievers ETF Stock Performance

The company has a 50 day moving average price of $46.21 and a two-hundred day moving average price of $44.15. The firm has a market capitalization of $722.44 million, a price-to-earnings ratio of 22.62 and a beta of 0.83.

Invesco Dividend Achievers ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 23rd were given a dividend of $0.173 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend was Monday, September 23rd.

Institutional Investors Weigh In On Invesco Dividend Achievers ETF

A number of large investors have recently added to or reduced their stakes in the business. Raymond James & Associates raised its stake in Invesco Dividend Achievers ETF by 59.6% during the second quarter. Raymond James & Associates now owns 370,307 shares of the company’s stock worth $15,801,000 after acquiring an additional 138,313 shares during the period. Waverly Advisors LLC bought a new position in shares of Invesco Dividend Achievers ETF during the 1st quarter valued at about $2,496,000. Atlas Private Wealth Advisors grew its stake in shares of Invesco Dividend Achievers ETF by 52.8% in the 2nd quarter. Atlas Private Wealth Advisors now owns 139,730 shares of the company’s stock worth $5,962,000 after purchasing an additional 48,270 shares during the last quarter. Cetera Investment Advisers bought a new stake in shares of Invesco Dividend Achievers ETF in the 1st quarter worth approximately $2,013,000. Finally, Stratos Wealth Partners LTD. lifted its stake in Invesco Dividend Achievers ETF by 21.3% during the third quarter. Stratos Wealth Partners LTD. now owns 126,968 shares of the company’s stock valued at $5,910,000 after purchasing an additional 22,261 shares during the last quarter.

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.