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

Invesco Dividend Achievers ETF (NASDAQ:PFM) reached a new 52-week high during trading on Wednesday . The stock traded as high as $56.26 and last traded at $56.08, with a volume of 17889 shares. The stock had previously closed at $55.98.

Invesco Dividend Achievers ETF Price Performance

The business has a fifty day moving average of $54.88 and a 200 day moving average of $53.37. The stock has a market capitalization of $787.36 million, a price-to-earnings ratio of 23.20 and a beta of 0.78.

Invesco Dividend Achievers ETF Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Monday, June 22nd were paid a dividend of $0.1929 per share. This represents a $0.77 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Monday, June 22nd.

Institutional Investors Weigh In On Invesco Dividend Achievers ETF

A number of institutional investors have recently modified their holdings of PFM. Fifth Third Bancorp purchased a new stake in Invesco Dividend Achievers ETF during the first quarter worth about $28,000. Assetmark Inc. grew its stake in Invesco Dividend Achievers ETF by 900.9% during the 1st quarter. Assetmark Inc. now owns 1,111 shares of the company’s stock worth $57,000 after buying an additional 1,000 shares during the last quarter. Sound Income Strategies LLC acquired a new position in Invesco Dividend Achievers ETF in the fourth quarter valued at $59,000. Western Wealth Management LLC purchased a new stake in shares of Invesco Dividend Achievers ETF during the first quarter worth approximately $77,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Invesco Dividend Achievers ETF in the 4th quarter valued at approximately $83,000.

About Invesco Dividend Achievers ETF

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.