Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY) Sets New 52-Week High – Still a Buy?

Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $25.45 and last traded at $25.42, with a volume of 55155 shares trading hands. The stock had previously closed at $25.08.

Invesco High Yield Equity Dividend Achievers ETF Price Performance

The company has a market cap of $1.19 billion, a price-to-earnings ratio of 13.11 and a beta of 0.65. The business’s 50-day simple moving average is $23.96 and its 200-day simple moving average is $22.57.

Invesco High Yield Equity Dividend Achievers ETF Announces Dividend

The firm also recently disclosed a dividend, which was paid on Friday, July 24th. Stockholders of record on Monday, July 20th were paid a dividend of $0.0971 per share. The ex-dividend date of this dividend was Monday, July 20th.

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

Several hedge funds have recently bought and sold shares of the stock. Cardiff Park Advisors LLC purchased a new stake in shares of Invesco High Yield Equity Dividend Achievers ETF in the first quarter valued at $27,000. Palisade Asset Management LLC purchased a new stake in Invesco High Yield Equity Dividend Achievers ETF during the 3rd quarter worth about $82,000. Glenmede Trust Co. NA acquired a new position in Invesco High Yield Equity Dividend Achievers ETF in the 1st quarter valued at about $86,000. Private Trust Co. NA raised its stake in Invesco High Yield Equity Dividend Achievers ETF by 25.9% in the 4th quarter. Private Trust Co. NA now owns 5,161 shares of the company’s stock valued at $105,000 after purchasing an additional 1,062 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC acquired a new position in Invesco High Yield Equity Dividend Achievers ETF in the 1st quarter valued at about $115,000.

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.