Invesco Dividend Achievers ETF (NASDAQ:PFM) Sets New 12-Month High – Should You Buy?

Invesco Dividend Achievers ETF (NASDAQ:PFM)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $55.22 and last traded at $55.20, with a volume of 7489 shares trading hands. The stock had previously closed at $54.97.

Invesco Dividend Achievers ETF Trading Up 0.4%

The company has a market cap of $782.52 million, a price-to-earnings ratio of 23.20 and a beta of 0.78. The stock’s 50-day moving average is $53.10 and its 200-day moving average is $52.61.

Invesco Dividend Achievers ETF Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Monday, March 23rd were paid a $0.1949 dividend. The ex-dividend date was Monday, March 23rd. This represents a $0.78 dividend on an annualized basis and a yield of 1.4%. This is an increase from Invesco Dividend Achievers ETF’s previous quarterly dividend of $0.18.

Institutional Trading of Invesco Dividend Achievers ETF

Large investors have recently modified their holdings of the business. Raymond James Financial Inc. increased its position in shares of Invesco Dividend Achievers ETF by 0.4% in the second quarter. Raymond James Financial Inc. now owns 846,279 shares of the company’s stock worth $40,765,000 after purchasing an additional 3,596 shares during the last quarter. Flaharty Asset Management LLC lifted its position in Invesco Dividend Achievers ETF by 0.3% during the fourth quarter. Flaharty Asset Management LLC now owns 501,524 shares of the company’s stock valued at $25,831,000 after purchasing an additional 1,425 shares during the last quarter. Bank of America Corp DE lifted its position in Invesco Dividend Achievers ETF by 0.7% during the third quarter. Bank of America Corp DE now owns 275,362 shares of the company’s stock valued at $13,972,000 after purchasing an additional 1,809 shares during the last quarter. CPC Advisors LLC purchased a new position in Invesco Dividend Achievers ETF in the 4th quarter worth approximately $7,851,000. Finally, Jones Financial Companies Lllp grew its stake in Invesco Dividend Achievers ETF by 6.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 148,265 shares of the company’s stock worth $7,482,000 after buying an additional 8,410 shares in 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.