Invesco Dividend Achievers ETF (NASDAQ:PFM) Stock Price Down 0.1% – Here’s What Happened

Invesco Dividend Achievers ETF (NASDAQ:PFM) traded down 0.1% on Friday . The stock traded as low as $55.68 and last traded at $55.89. 29,640 shares changed hands during mid-day trading, an increase of 22% from the average daily volume of 24,243 shares. The stock had previously closed at $55.96.

Invesco Dividend Achievers ETF Stock Down 0.1%

The firm has a market cap of $783.58 million, a price-to-earnings ratio of 23.20 and a beta of 0.77. The business has a 50 day moving average price of $56.81 and a 200-day moving average price of $54.82.

Hedge Funds Weigh In On Invesco Dividend Achievers ETF

Institutional investors and hedge funds have recently bought and sold shares of the stock. Citadel Advisors LLC boosted its stake in shares of Invesco Dividend Achievers ETF by 6.2% in the second quarter. Citadel Advisors LLC now owns 9,243 shares of the company’s stock valued at $513,000 after purchasing an additional 538 shares during the period. HB Wealth Management LLC acquired a new stake in Invesco Dividend Achievers ETF during the 2nd quarter valued at $235,000. City Holding Co. acquired a new stake in Invesco Dividend Achievers ETF during the 2nd quarter valued at $58,000. Focus Financial Network Inc. increased its stake 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 buying an additional 326 shares during the period. Finally, Eastern Bank increased its stake in Invesco Dividend Achievers ETF by 128.4% during the 2nd quarter. Eastern Bank now owns 12,569 shares of the company’s stock worth $697,000 after buying an additional 7,067 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.