Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY) Shares Pass Below 50 Day Moving Average – What’s Next?

Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY)’s share price crossed 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 traded.

Invesco High Yield Equity Dividend Achievers ETF Stock Performance

The business’s 50-day moving average is $21.55 and its 200-day moving average is $21.02. The company has a market capitalization of $1.01 billion, a PE ratio of 13.11 and a beta of 0.74.

Invesco High Yield Equity Dividend Achievers ETF Cuts Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PEY. Northwestern Mutual Wealth Management Co. raised its stake in Invesco High Yield Equity Dividend Achievers ETF by 155.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 268,216 shares of the company’s stock valued at $5,469,000 after buying an additional 163,387 shares during the last quarter. Good Steward Wealth Advisors LLC increased its holdings in shares of Invesco High Yield Equity Dividend Achievers ETF by 81.2% during the third quarter. Good Steward Wealth Advisors LLC now owns 190,194 shares of the company’s stock valued at $4,007,000 after acquiring an additional 85,255 shares in the last quarter. Virtu Financial LLC increased its holdings in shares of Invesco High Yield Equity Dividend Achievers ETF by 402.6% during the fourth quarter. Virtu Financial LLC now owns 84,130 shares of the company’s stock valued at $1,715,000 after acquiring an additional 67,392 shares in the last quarter. Royal Bank of Canada raised its position in shares of Invesco High Yield Equity Dividend Achievers ETF by 28.2% in the 4th quarter. Royal Bank of Canada now owns 263,179 shares of the company’s stock worth $5,366,000 after purchasing an additional 57,841 shares during the last quarter. Finally, CIBC Bancorp USA Inc. bought a new position in Invesco High Yield Equity Dividend Achievers ETF in the 3rd quarter worth about $636,000.

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.