Invesco Dividend Achievers ETF (NASDAQ:PFM) Hits New 12-Month High – Here’s What Happened

Shares of Invesco Dividend Achievers ETF (NASDAQ:PFM) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $54.42 and last traded at $54.42, with a volume of 2028 shares. The stock had previously closed at $54.07.

Invesco Dividend Achievers ETF Stock Performance

The stock has a market cap of $770.65 million, a PE ratio of 23.20 and a beta of 0.78. The firm has a 50-day moving average price of $52.51 and a 200-day moving average price of $52.29.

Invesco Dividend Achievers ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Monday, March 23rd were paid a $0.1949 dividend. This is a boost from Invesco Dividend Achievers ETF’s previous quarterly dividend of $0.18. This represents a $0.78 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Monday, March 23rd.

Institutional Investors Weigh In On Invesco Dividend Achievers ETF

Institutional investors and hedge funds have recently made changes to their positions in the company. Assetmark Inc. lifted its position in Invesco Dividend Achievers ETF by 900.9% in the 1st quarter. Assetmark Inc. now owns 1,111 shares of the company’s stock valued at $57,000 after acquiring an additional 1,000 shares in the last quarter. SteelPeak Wealth LLC raised its stake in shares of Invesco Dividend Achievers ETF by 497.3% in the first quarter. SteelPeak Wealth LLC now owns 53,914 shares of the company’s stock worth $2,755,000 after purchasing an additional 44,888 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Invesco Dividend Achievers ETF by 250.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 5,600 shares of the company’s stock valued at $287,000 after purchasing an additional 4,000 shares in the last quarter. Independent Financial Group LLC purchased a new stake in shares of Invesco Dividend Achievers ETF during the first quarter valued at $1,160,000. Finally, International Assets Investment Management LLC boosted its position in shares of Invesco Dividend Achievers ETF by 45.2% during the first quarter. International Assets Investment Management LLC now owns 2,425 shares of the company’s stock valued at $124,000 after buying an additional 755 shares during the last quarter.

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.