Invesco Dividend Achievers ETF (NASDAQ:PFM) Sees Unusually-High Trading Volume – Still a Buy?

Invesco Dividend Achievers ETF (NASDAQ:PFM) saw unusually-high trading volume on Friday . Approximately 106,602 shares traded hands during trading, an increase of 276% from the previous session’s volume of 28,362 shares.The stock last traded at $51.6790 and had previously closed at $51.43.

Invesco Dividend Achievers ETF Stock Performance

The company’s fifty day moving average price is $51.14 and its 200-day moving average price is $49.77. The stock has a market cap of $743.30 million, a P/E ratio of 23.20 and a beta of 0.82.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PFM. CWM LLC raised its holdings in shares of Invesco Dividend Achievers ETF by 58.0% in the 2nd quarter. CWM LLC now owns 689 shares of the company’s stock valued at $33,000 after purchasing an additional 253 shares in the last quarter. Allworth Financial LP increased its holdings in Invesco Dividend Achievers ETF by 22.2% during the third quarter. Allworth Financial LP now owns 3,184 shares of the company’s stock valued at $162,000 after buying an additional 579 shares during the period. Briaud Financial Planning Inc bought a new position in Invesco Dividend Achievers ETF in the second quarter worth approximately $187,000. Sovran Advisors LLC bought a new position in Invesco Dividend Achievers ETF in the second quarter worth approximately $231,000. Finally, Caldwell Trust Co purchased a new stake in Invesco Dividend Achievers ETF during the second quarter worth $296,000.

Invesco Dividend Achievers ETF Company Profile

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.