Invesco Dividend Achievers ETF (NASDAQ:PFM) Sees Large Volume Increase – Time to Buy?

Shares of Invesco Dividend Achievers ETF (NASDAQ:PFM) saw unusually-strong trading volume on Wednesday. Approximately 32,947 shares were traded during trading, an increase of 36% from the average daily volume of 24,257 shares. The stock last traded at $58.9950 and had previously closed at $58.80.

Invesco Dividend Achievers ETF Price Performance

The company has a market cap of $825.63 million, a P/E ratio of 24.36 and a beta of 0.76. The company’s 50-day moving average price is $56.71 and its 200-day moving average price is $55.02.

Institutional Investors Weigh In On Invesco Dividend Achievers ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Focus Financial Network Inc. boosted its position in Invesco Dividend Achievers ETF by 0.3% during the 2nd quarter. Focus Financial Network Inc. now owns 113,600 shares of the company’s stock worth $6,300,000 after acquiring an additional 326 shares during the last quarter. Citizens Financial Group Inc. RI acquired a new stake in shares of Invesco Dividend Achievers ETF in the third quarter valued at approximately $4,605,000. Choreo LLC bought a new stake in shares of Invesco Dividend Achievers ETF in the third quarter worth $4,353,000. TD Waterhouse Canada Inc. bought a new stake in shares of Invesco Dividend Achievers ETF in the third quarter worth $4,175,000. Finally, Royal Bank of Canada lifted its position in shares of Invesco Dividend Achievers ETF by 4.4% in the first quarter. Royal Bank of Canada now owns 73,958 shares of the company’s stock worth $3,778,000 after purchasing an additional 3,114 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.