Invesco Dividend Achievers ETF (NASDAQ:PFM) Reaches New 1-Year High – Time to Buy?

Invesco Dividend Achievers ETF (NASDAQ:PFM)’s share price hit a new 52-week high on Monday . The company traded as high as $54.21 and last traded at $53.9810, with a volume of 1053 shares. The stock had previously closed at $53.08.

Invesco Dividend Achievers ETF Stock Performance

The firm has a market capitalization of $780.19 million, a price-to-earnings ratio of 23.20 and a beta of 0.82. The business’s 50 day moving average is $52.37 and its 200-day moving average is $51.02.

Invesco Dividend Achievers ETF Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Monday, December 22nd were given a $0.185 dividend. This is an increase from Invesco Dividend Achievers ETF’s previous quarterly dividend of $0.17. This represents a $0.74 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, December 22nd.

Institutional Trading of Invesco Dividend Achievers ETF

Several hedge funds have recently added to or reduced their stakes in PFM. CWM LLC increased its position in Invesco Dividend Achievers ETF by 58.0% in the 2nd quarter. CWM LLC now owns 689 shares of the company’s stock worth $33,000 after buying an additional 253 shares during the period. Sound Income Strategies LLC acquired a new stake in shares of Invesco Dividend Achievers ETF in the fourth quarter worth $59,000. Allspring Global Investments Holdings LLC bought a new position in Invesco Dividend Achievers ETF during the fourth quarter worth $83,000. International Assets Investment Management LLC bought a new position in Invesco Dividend Achievers ETF during the fourth quarter worth $86,000. Finally, AlphaCore Capital LLC acquired a new position in Invesco Dividend Achievers ETF during the 4th quarter valued at $99,000.

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.