Northeast Financial Consultants Inc purchased a new position in shares of PowerShares High Yld. Dividend Achv (NASDAQ:PEY) in the third quarter, Holdings Channel reports. The institutional investor purchased 11,814 shares of the company’s stock, valued at approximately $211,000.

Several other hedge funds have also modified their holdings of PEY. Stratos Wealth Partners LTD. acquired a new position in shares of PowerShares High Yld. Dividend Achv during the third quarter worth approximately $106,000. IMA Wealth Inc. bought a new stake in shares of PowerShares High Yld. Dividend Achv during the second quarter valued at approximately $121,000. Usca Ria LLC bought a new stake in shares of PowerShares High Yld. Dividend Achv during the second quarter valued at approximately $251,000. GWM Advisors LLC increased its position in shares of PowerShares High Yld. Dividend Achv by 29.8% during the third quarter. GWM Advisors LLC now owns 15,187 shares of the company’s stock valued at $272,000 after purchasing an additional 3,489 shares during the period. Finally, Flagship Harbor Advisors LLC increased its position in shares of PowerShares High Yld. Dividend Achv by 44.0% during the third quarter. Flagship Harbor Advisors LLC now owns 18,900 shares of the company’s stock valued at $338,000 after purchasing an additional 5,775 shares during the period.

PEY opened at $17.48 on Monday. PowerShares High Yld. Dividend Achv has a 1 year low of $16.53 and a 1 year high of $18.61.

The company also recently disclosed a monthly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Tuesday, October 23rd were given a dividend of $0.0573 per share. The ex-dividend date was Monday, October 22nd. This is a boost from PowerShares High Yld. Dividend Achv’s previous monthly dividend of $0.06. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.93%.

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PowerShares High Yld. Dividend Achv Company Profile

PowerShares High Yield Equity Dividend Achiever Portfolio (the Fund) is based on the Mergent Dividend Achiever 50 Index (the Index). The Fund focuses to invest at least 90% of its total assets in dividend paying common stocks, which comprise the Index. The Index is comprised of 50 stocks selected principally on the basis of dividend yield and consistent growth in dividends.

Further Reading: How is the S&P 500 index different from the DJIA?

Want to see what other hedge funds are holding PEY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PowerShares High Yld. Dividend Achv (NASDAQ:PEY).

Institutional Ownership by Quarter for PowerShares High Yld. Dividend Achv (NASDAQ:PEY)

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