Invesco BuyBack Achievers ETF (NASDAQ:PKW) Sees Unusually-High Trading Volume – Here’s Why

Invesco BuyBack Achievers ETF (NASDAQ:PKW) shares saw unusually-high trading volume on Monday. Approximately 69,297 shares changed hands during mid-day trading, an increase of 135% from the average daily volume of 29,427 shares. The stock last traded at $152.0410 and had previously closed at $150.53.

Invesco BuyBack Achievers ETF Stock Up 1.8%

The stock has a market cap of $1.80 billion, a P/E ratio of 15.13 and a beta of 0.92. The company’s 50 day moving average price is $148.97 and its 200-day moving average price is $141.57.

Invesco BuyBack Achievers ETF Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Monday, September 21st were issued a $0.2183 dividend. The ex-dividend date was Monday, September 21st. This is a negative change from Invesco BuyBack Achievers ETF’s previous quarterly dividend of $0.2575. This represents a $0.87 dividend on an annualized basis and a yield of 0.6%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. United Community Bank bought a new position in shares of Invesco BuyBack Achievers ETF in the 2nd quarter worth about $70,000. Envestnet Asset Management Inc. grew its stake in Invesco BuyBack Achievers ETF by 173.4% during the second quarter. Envestnet Asset Management Inc. now owns 192,831 shares of the exchange traded fund’s stock worth $27,316,000 after purchasing an additional 122,311 shares during the period. Triton Wealth Management PLLC grew its stake in Invesco BuyBack Achievers ETF by 1.6% during the first quarter. Triton Wealth Management PLLC now owns 72,054 shares of the exchange traded fund’s stock worth $9,529,000 after purchasing an additional 1,120 shares during the period. Resonant Capital Advisors LLC increased its holdings in Invesco BuyBack Achievers ETF by 2.3% in the first quarter. Resonant Capital Advisors LLC now owns 61,405 shares of the exchange traded fund’s stock worth $8,059,000 after purchasing an additional 1,406 shares in the last quarter. Finally, Cetera Investment Advisers increased its holdings in Invesco BuyBack Achievers ETF by 6.1% in the first quarter. Cetera Investment Advisers now owns 61,132 shares of the exchange traded fund’s stock worth $8,024,000 after purchasing an additional 3,522 shares in the last quarter.

About Invesco BuyBack Achievers ETF

PowerShares Buyback Achievers Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Share BuyBack Achievers Index (the Index). The Index is designed to track the performance of companies that meet the requirements to be classified as BuyBack Achievers. To become eligible for inclusion in the Index, a company must be incorporated in the United States, trade on a United States exchange and must have repurchased at least 5% or more of its outstanding shares for the trailing 12 months.