Stratos Wealth Partners LTD. bought a new position in shares of PowerShares High Yld. Dividend Achv (NASDAQ:PEY) in the 3rd quarter, Holdings Channel reports. The fund bought 5,884 shares of the company’s stock, valued at approximately $106,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PEY. IMA Wealth Inc. purchased a new stake in PowerShares High Yld. Dividend Achv during the 2nd quarter valued at approximately $121,000. Usca Ria LLC purchased a new stake in PowerShares High Yld. Dividend Achv during the 2nd quarter valued at approximately $251,000. GWM Advisors LLC raised its stake in shares of PowerShares High Yld. Dividend Achv by 29.8% during the 3rd quarter. GWM Advisors LLC now owns 15,187 shares of the company’s stock worth $272,000 after buying an additional 3,489 shares in the last quarter. Creative Planning purchased a new position in shares of PowerShares High Yld. Dividend Achv during the 3rd quarter worth approximately $465,000. Finally, IFP Advisors Inc raised its stake in shares of PowerShares High Yld. Dividend Achv by 29.6% during the 3rd quarter. IFP Advisors Inc now owns 26,339 shares of the company’s stock worth $473,000 after buying an additional 6,022 shares in the last quarter.

Shares of PEY stock opened at $17.48 on Monday. PowerShares High Yld. Dividend Achv has a 12-month low of $16.53 and a 12-month high of $18.61.

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

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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: Dividend Stocks – Are They Right For You?

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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