Invesco Dividend Achievers ETF (NASDAQ:PFM) Hits New 12-Month High – Here’s Why

Invesco Dividend Achievers ETF (NASDAQ:PFM – Get Free Report)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $57.29 and last traded at $57.28, with a volume of 24226 shares changing hands. The stock had previously closed at $56.57.

Invesco Dividend Achievers ETF Price Performance

The stock has a market cap of $805.31 million, a price-to-earnings ratio of 23.20 and a beta of 0.77. The stock’s 50 day simple moving average is $55.70 and its two-hundred day simple moving average is $53.98.

Get Invesco Dividend Achievers ETF alerts:

Invesco Dividend Achievers ETF Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Monday, June 22nd were paid a $0.1929 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $0.77 dividend on an annualized basis and a yield of 1.3%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp bought a new stake in shares of Invesco Dividend Achievers ETF in the 1st quarter valued at approximately $28,000. Assetmark Inc. boosted its stake in Invesco Dividend Achievers ETF by 900.9% in the 1st quarter. Assetmark Inc. now owns 1,111 shares of the company’s stock valued at $57,000 after buying an additional 1,000 shares in the last quarter. City Holding Co. acquired a new stake in Invesco Dividend Achievers ETF in the 2nd quarter valued at $58,000. Sound Income Strategies LLC bought a new stake in Invesco Dividend Achievers ETF in the fourth quarter valued at $59,000. Finally, Western Wealth Management LLC bought a new stake in Invesco Dividend Achievers ETF in the first quarter valued at $77,000.

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.

Read More

• Five stocks we like better than Invesco Dividend Achievers ETF
• Sandisk Just Delivered a Blowout Quarter—Here’s Why the Stock Is Falling
• 4 Oil and Gas ETF Plays as Prices Stay Sky-High
• What Tesla Stands to Lose If It Walks Away From China
• Disney Sets Up for a Magical Year in 2027

Receive News & Ratings for Invesco Dividend Achievers ETF Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Invesco Dividend Achievers ETF and related companies with MarketBeat.com's FREE daily email newsletter.