Invesco Dividend Achievers ETF (NASDAQ:PFM) Reaches New 12-Month High – What’s Next?

Invesco Dividend Achievers ETF (NASDAQ:PFM)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $55.93 and last traded at $55.93, with a volume of 14719 shares traded. The stock had previously closed at $55.37.

Invesco Dividend Achievers ETF Stock Up 1.0%

The business has a 50-day moving average price of $54.70 and a 200-day moving average price of $53.25. The firm has a market capitalization of $790.29 million, a P/E ratio of 23.20 and a beta of 0.78.

Invesco Dividend Achievers ETF Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Monday, June 22nd were issued a $0.1929 dividend. This represents a $0.77 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Monday, June 22nd.

Hedge Funds Weigh In On Invesco Dividend Achievers ETF

A number of hedge funds have recently made changes to their positions in PFM. Fifth Third Bancorp bought a new position in shares of Invesco Dividend Achievers ETF during the 1st quarter worth about $28,000. Assetmark Inc. raised its position in Invesco Dividend Achievers ETF by 900.9% in the first quarter. Assetmark Inc. now owns 1,111 shares of the company’s stock worth $57,000 after purchasing an additional 1,000 shares in the last quarter. Sound Income Strategies LLC acquired a new position in Invesco Dividend Achievers ETF in the fourth quarter worth about $59,000. Western Wealth Management LLC bought a new position in Invesco Dividend Achievers ETF during the first quarter worth about $77,000. Finally, Allspring Global Investments Holdings LLC bought a new position in Invesco Dividend Achievers ETF during the fourth quarter worth about $83,000.

About Invesco Dividend Achievers ETF

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.