Invesco BuyBack Achievers ETF (NASDAQ:PKW) Sets New 1-Year High – Still a Buy?

Invesco BuyBack Achievers ETF (NASDAQ:PKW)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $137.15 and last traded at $137.5010, with a volume of 17862 shares traded. The stock had previously closed at $135.55.

Invesco BuyBack Achievers ETF Stock Up 1.7%

The company has a market cap of $1.58 billion, a price-to-earnings ratio of 15.13 and a beta of 1.05. The firm has a 50 day moving average price of $132.29 and a two-hundred day moving average price of $129.86.

Invesco BuyBack Achievers ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Monday, December 22nd were paid a $0.2739 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, December 22nd.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Modern Wealth Management LLC increased its stake in shares of Invesco BuyBack Achievers ETF by 2.3% in the 3rd quarter. Modern Wealth Management LLC now owns 3,566 shares of the exchange traded fund’s stock valued at $472,000 after acquiring an additional 79 shares in the last quarter. Essex Financial Services Inc. grew its holdings in Invesco BuyBack Achievers ETF by 0.5% in the third quarter. Essex Financial Services Inc. now owns 16,604 shares of the exchange traded fund’s stock worth $2,200,000 after purchasing an additional 84 shares during the period. Allworth Financial LP increased its stake in Invesco BuyBack Achievers ETF by 3.6% in the third quarter. Allworth Financial LP now owns 2,532 shares of the exchange traded fund’s stock valued at $335,000 after purchasing an additional 88 shares in the last quarter. Costello Asset Management INC raised its holdings in shares of Invesco BuyBack Achievers ETF by 77.0% during the second quarter. Costello Asset Management INC now owns 216 shares of the exchange traded fund’s stock valued at $27,000 after purchasing an additional 94 shares during the period. Finally, Carnegie Investment Counsel boosted its position in shares of Invesco BuyBack Achievers ETF by 0.7% during the 2nd quarter. Carnegie Investment Counsel now owns 15,232 shares of the exchange traded fund’s stock worth $1,883,000 after purchasing an additional 110 shares in the last quarter.

Invesco BuyBack Achievers ETF Company Profile

PowerShares Buyback Achievers Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Share BuyBack Achievers Index (the Index). The Index is designed to track the performance of companies that meet the requirements to be classified as BuyBack Achievers. To become eligible for inclusion in the Index, a company must be incorporated in the United States, trade on a United States exchange and must have repurchased at least 5% or more of its outstanding shares for the trailing 12 months.