Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY) Sees Strong Trading Volume – Should You Buy?

Shares of Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY) saw an uptick in trading volume on Tuesday . 951,352 shares traded hands during mid-day trading, an increase of 136% from the previous session’s volume of 403,966 shares.The stock last traded at $21.36 and had previously closed at $21.24.

Invesco High Yield Equity Dividend Achievers ETF Trading Up 0.2%

The stock has a market capitalization of $1.04 billion, a PE ratio of 13.11 and a beta of 0.74. The stock has a 50 day moving average price of $21.52 and a 200-day moving average price of $21.01.

Invesco High Yield Equity Dividend Achievers ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Friday, March 27th. Shareholders of record on Monday, March 23rd were given a $0.0711 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Monday, March 23rd.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Cardiff Park Advisors LLC bought a new position in shares of Invesco High Yield Equity Dividend Achievers ETF during the third quarter worth $26,000. Spire Wealth Management boosted its holdings in shares of Invesco High Yield Equity Dividend Achievers ETF by 700.0% during the 4th quarter. Spire Wealth Management now owns 1,720 shares of the company’s stock valued at $35,000 after purchasing an additional 1,505 shares during the last quarter. Hurley Capital LLC purchased a new position in shares of Invesco High Yield Equity Dividend Achievers ETF during the second quarter valued at about $41,000. JPL Wealth Management LLC purchased a new position in shares of Invesco High Yield Equity Dividend Achievers ETF during the third quarter valued at about $75,000. Finally, Palisade Asset Management LLC bought a new stake in shares of Invesco High Yield Equity Dividend Achievers ETF in the third quarter worth about $82,000.

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.