Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY) Stock Passes Below 50-Day Moving Average – Here’s Why

Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY) passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $21.55 and traded as low as $20.54. Invesco High Yield Equity Dividend Achievers ETF shares last traded at $20.60, with a volume of 592,537 shares changing hands.

Invesco High Yield Equity Dividend Achievers ETF Trading Down 1.2%

The firm’s 50-day moving average is $21.55 and its two-hundred day moving average is $21.02. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 13.11 and a beta of 0.74.

Invesco High Yield Equity Dividend Achievers ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, February 27th. Shareholders of record on Monday, February 23rd were paid a dividend of $0.0808 per share. This represents a c) annualized dividend and a yield of 4.7%. The ex-dividend date was Monday, February 23rd.

Hedge Funds Weigh In On Invesco High Yield Equity Dividend Achievers ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. increased its position in shares of Invesco High Yield Equity Dividend Achievers ETF by 1.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 35,547 shares of the company’s stock worth $725,000 after purchasing an additional 584 shares in the last quarter. World Investment Advisors purchased a new position in Invesco High Yield Equity Dividend Achievers ETF in the 4th quarter valued at $240,000. Virtu Financial LLC lifted its holdings in Invesco High Yield Equity Dividend Achievers ETF by 402.6% in the 4th quarter. Virtu Financial LLC now owns 84,130 shares of the company’s stock valued at $1,715,000 after purchasing an additional 67,392 shares in the last quarter. Beacon Pointe Advisors LLC boosted its stake in Invesco High Yield Equity Dividend Achievers ETF by 13.2% during the 4th quarter. Beacon Pointe Advisors LLC now owns 61,477 shares of the company’s stock worth $1,253,000 after purchasing an additional 7,190 shares during the last quarter. Finally, Evolve Private Wealth LLC acquired a new stake in Invesco High Yield Equity Dividend Achievers ETF during the 4th quarter worth $391,000.

About Invesco High Yield Equity Dividend Achievers ETF

PowerShares High Yield Equity Dividend Achiever Portfolio (the Fund) is based on the Mergent Dividend Achiever 50 Index (the Index). The Fund focuses to invest at least 90% of its total assets in dividend paying common stocks, which comprise the Index. The Index is comprised of 50 stocks selected principally on the basis of dividend yield and consistent growth in dividends. The Funds sector allocation includes consumers discretionary, consumer staples, energy, financials, healthcare, industrials, information technology, materials and telecommunication services.