Invesco Dividend Achievers ETF (NASDAQ:PFM) Sees Large Volume Increase – Time to Buy?

Invesco Dividend Achievers ETF (NASDAQ:PFM) shares saw unusually-strong trading volume on Thursday . Approximately 41,915 shares changed hands during mid-day trading, an increase of 29% from the previous session’s volume of 32,453 shares.The stock last traded at $52.26 and had previously closed at $52.03.

Invesco Dividend Achievers ETF Stock Up 0.7%

The business has a 50-day simple moving average of $51.41 and a 200-day simple moving average of $50.25. The stock has a market cap of $766.38 million, a P/E ratio of 23.20 and a beta of 0.82.

Invesco Dividend Achievers ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Monday, December 22nd were issued a $0.185 dividend. This is a boost from Invesco Dividend Achievers ETF’s previous quarterly dividend of $0.17. The ex-dividend date was Monday, December 22nd. This represents a $0.74 annualized dividend and a yield of 1.4%.

Institutional Investors Weigh In On Invesco Dividend Achievers ETF

Several hedge funds and other institutional investors have recently made changes to their positions in PFM. Wealth Enhancement Advisory Services LLC lifted its position in shares of Invesco Dividend Achievers ETF by 17.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 10,147 shares of the company’s stock worth $496,000 after purchasing an additional 1,501 shares during the last quarter. CreativeOne Wealth LLC increased its position in Invesco Dividend Achievers ETF by 9.3% in the 2nd quarter. CreativeOne Wealth LLC now owns 69,363 shares of the company’s stock worth $3,341,000 after buying an additional 5,897 shares during the period. Ibex Wealth Advisors bought a new position in Invesco Dividend Achievers ETF in the 2nd quarter worth approximately $408,000. Steward Partners Investment Advisory LLC lifted its holdings in shares of Invesco Dividend Achievers ETF by 3.6% during the second quarter. Steward Partners Investment Advisory LLC now owns 45,402 shares of the company’s stock worth $2,187,000 after buying an additional 1,592 shares during the last quarter. Finally, Sovran Advisors LLC bought a new stake in shares of Invesco Dividend Achievers ETF in the second quarter valued at approximately $231,000.

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.