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

Invesco Dividend Achievers ETF (NASDAQ:PFM) saw strong trading volume on Monday . 22,339 shares were traded during mid-day trading, a decline of 22% from the previous session’s volume of 28,494 shares.The stock last traded at $51.9910 and had previously closed at $52.06.

Invesco Dividend Achievers ETF Price Performance

The company has a market capitalization of $746.05 million, a PE ratio of 23.20 and a beta of 0.82. The company’s fifty day moving average is $51.30 and its 200-day moving average is $50.01.

Invesco Dividend Achievers ETF Increases Dividend

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

Institutional Investors Weigh In On Invesco Dividend Achievers ETF

Hedge funds and other institutional investors have recently bought and sold shares of the company. Flaharty Asset Management LLC acquired a new position in shares of Invesco Dividend Achievers ETF during the third quarter worth $25,379,000. Kingswood Wealth Advisors LLC purchased a new position in Invesco Dividend Achievers ETF during the 3rd quarter worth $2,302,000. TD Waterhouse Canada Inc. grew its stake in Invesco Dividend Achievers ETF by 36.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 95,087 shares of the company’s stock worth $4,611,000 after buying an additional 25,516 shares during the last quarter. Lido Advisors LLC acquired a new position in Invesco Dividend Achievers ETF during the 3rd quarter valued at about $852,000. Finally, Ibex Wealth Advisors purchased a new stake in Invesco Dividend Achievers ETF in the second quarter valued at about $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.