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

Invesco Dividend Achievers ETF (NASDAQ:PFM)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $56.53 and last traded at $56.53, with a volume of 749 shares traded. The stock had previously closed at $56.19.

Invesco Dividend Achievers ETF Price Performance

The firm has a market capitalization of $799.14 million, a PE ratio of 23.20 and a beta of 0.78. The firm has a fifty day moving average price of $55.47 and a 200 day moving average price of $53.81.

Invesco Dividend Achievers ETF Announces Dividend

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

Institutional Trading of Invesco Dividend Achievers ETF

A number of hedge funds have recently bought and sold shares of PFM. CPC Advisors LLC acquired a new stake in shares of Invesco Dividend Achievers ETF during the fourth quarter valued at approximately $7,851,000. Cape ANN Savings Bank purchased a new stake in shares of Invesco Dividend Achievers ETF in the 4th quarter valued at approximately $783,000. Independent Financial Group LLC acquired a new position in Invesco Dividend Achievers ETF in the 1st quarter worth approximately $1,160,000. HighTower Advisors LLC grew its position in Invesco Dividend Achievers ETF by 55.9% during the 4th quarter. HighTower Advisors LLC now owns 56,787 shares of the company’s stock worth $2,925,000 after purchasing an additional 20,354 shares in the last quarter. Finally, SteelPeak Wealth LLC raised its stake in Invesco Dividend Achievers ETF by 497.3% during the 1st quarter. SteelPeak Wealth LLC now owns 53,914 shares of the company’s stock valued at $2,755,000 after purchasing an additional 44,888 shares during the period.

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.