Invesco Dividend Achievers ETF (NASDAQ:PFM) Reaches New 52-Week High – Here’s Why

Invesco Dividend Achievers ETF (NASDAQ:PFM)’s share price reached a new 52-week high during mid-day trading on Friday . The stock 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 Stock Performance

The business’s fifty day simple moving average is $55.21 and its 200 day simple moving average is $53.59. The stock has a market cap of $783.86 million, a price-to-earnings ratio of 23.20 and a beta of 0.78.

Invesco Dividend Achievers ETF Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Monday, June 22nd were issued a $0.1929 dividend. The ex-dividend date of this dividend 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

A number of hedge funds have recently bought and sold shares of PFM. City Holding Co. acquired a new position in shares of Invesco Dividend Achievers ETF in the 2nd quarter valued at approximately $58,000. Focus Financial Network Inc. boosted its stake in shares of Invesco Dividend Achievers ETF by 0.3% during the 2nd quarter. Focus Financial Network Inc. now owns 113,600 shares of the company’s stock valued at $6,300,000 after buying an additional 326 shares during the last quarter. Eastern Bank grew its position in shares of Invesco Dividend Achievers ETF by 128.4% during the second quarter. Eastern Bank now owns 12,569 shares of the company’s stock worth $697,000 after buying an additional 7,067 shares in the last quarter. Western Wealth Management LLC acquired a new stake in shares of Invesco Dividend Achievers ETF during the first quarter worth approximately $77,000. Finally, Royal Bank of Canada increased its stake in shares of Invesco Dividend Achievers ETF by 4.4% in the first quarter. Royal Bank of Canada now owns 73,958 shares of the company’s stock worth $3,778,000 after buying an additional 3,114 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. 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.