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

Invesco Dividend Achievers ETF (NASDAQ:PFMGet Free Report)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $55.90 and last traded at $55.68, with a volume of 807 shares traded. The stock had previously closed at $55.22.

Invesco Dividend Achievers ETF Price Performance

The company has a market capitalization of $789.16 million, a PE ratio of 23.20 and a beta of 0.78. The stock’s 50 day simple moving average is $53.99 and its 200-day simple moving average is $52.94.

Invesco Dividend Achievers ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 23rd were paid a dividend of $0.1949 per share. The ex-dividend date was Monday, March 23rd. This is a positive change from Invesco Dividend Achievers ETF’s previous quarterly dividend of $0.18. This represents a $0.78 dividend on an annualized basis and a dividend yield of 1.4%.

Institutional Trading of Invesco Dividend Achievers ETF

A number of large investors have recently made changes to their positions in PFM. CPC Advisors LLC purchased a new stake in shares of Invesco Dividend Achievers ETF during the fourth quarter worth approximately $7,851,000. SteelPeak Wealth LLC increased its stake in shares of Invesco Dividend Achievers ETF by 497.3% during the first quarter. SteelPeak Wealth LLC now owns 53,914 shares of the company’s stock worth $2,755,000 after buying an additional 44,888 shares during the period. Independent Financial Group LLC purchased a new stake in shares of Invesco Dividend Achievers ETF during the first quarter worth approximately $1,160,000. HighTower Advisors LLC increased its stake in shares of Invesco Dividend Achievers ETF by 55.9% during the fourth quarter. HighTower Advisors LLC now owns 56,787 shares of the company’s stock worth $2,925,000 after buying an additional 20,354 shares during the period. Finally, Lido Advisors LLC purchased a new stake in shares of Invesco Dividend Achievers ETF during the third quarter worth approximately $852,000.

About Invesco Dividend Achievers ETF

(Get Free Report)

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.

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