Invesco Dividend Achievers ETF (NASDAQ:PFM) Hits New 1-Year High – What’s Next?

Invesco Dividend Achievers ETF (NASDAQ:PFM – Get Free Report)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $56.26 and last traded at $56.08, with a volume of 17889 shares changing hands. The stock had previously closed at $55.98.

Invesco Dividend Achievers ETF Trading Up 0.2%

The company has a market capitalization of $783.85 million, a price-to-earnings ratio of 23.20 and a beta of 0.78. The company has a 50-day moving average of $54.97 and a 200-day moving average of $53.43.

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Invesco Dividend Achievers ETF Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Fifth Third Bancorp purchased a new position in Invesco Dividend Achievers ETF during the 1st quarter worth approximately $28,000. Assetmark Inc. boosted its holdings in Invesco Dividend Achievers ETF by 900.9% during the first quarter. Assetmark Inc. now owns 1,111 shares of the company’s stock worth $57,000 after buying an additional 1,000 shares in the last quarter. Sound Income Strategies LLC purchased a new stake in Invesco Dividend Achievers ETF during the fourth quarter worth $59,000. Western Wealth Management LLC acquired a new stake in Invesco Dividend Achievers ETF during the first quarter valued at $77,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Invesco Dividend Achievers ETF during the fourth quarter valued at $83,000.

Invesco Dividend Achievers ETF Company Profile

(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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