Invesco Dividend Achievers ETF (NASDAQ:PFM) Sets New 52-Week High – Time to Buy?

Invesco Dividend Achievers ETF (NASDAQ:PFM) reached a new 52-week high on Monday . The company traded as high as $54.21 and last traded at $53.9810, with a volume of 1053 shares trading hands. The stock had previously closed at $53.08.

Invesco Dividend Achievers ETF Price Performance

The stock has a 50-day moving average of $52.26 and a 200-day moving average of $50.95. The firm has a market cap of $781.64 million, a price-to-earnings ratio of 23.20 and a beta of 0.82.

Invesco Dividend Achievers ETF Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Monday, December 22nd were issued a dividend of $0.185 per share. This is an increase from Invesco Dividend Achievers ETF’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $0.74 annualized dividend and a dividend yield of 1.4%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC increased its holdings in Invesco Dividend Achievers ETF by 58.0% in the 2nd quarter. CWM LLC now owns 689 shares of the company’s stock valued at $33,000 after buying an additional 253 shares during the period. Briaud Financial Planning Inc bought a new stake in shares of Invesco Dividend Achievers ETF during the 2nd quarter worth approximately $187,000. Flagship Harbor Advisors LLC boosted its position in shares of Invesco Dividend Achievers ETF by 3.1% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 17,755 shares of the company’s stock worth $855,000 after acquiring an additional 537 shares in the last quarter. Bank of Montreal Can increased its stake in Invesco Dividend Achievers ETF by 1.6% in the second quarter. Bank of Montreal Can now owns 21,300 shares of the company’s stock valued at $1,026,000 after acquiring an additional 345 shares during the last quarter. Finally, Ibex Wealth Advisors acquired a new position in Invesco Dividend Achievers ETF during the second quarter valued at approximately $408,000.

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.