Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY) Hits New 12-Month High – Still a Buy?

Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $23.24 and last traded at $23.05, with a volume of 227021 shares changing hands. The stock had previously closed at $22.96.

Invesco High Yield Equity Dividend Achievers ETF Trading Up 1.1%

The firm has a 50-day moving average of $22.14 and a 200-day moving average of $21.50. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 13.11 and a beta of 0.66.

Invesco High Yield Equity Dividend Achievers ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 18th were given a $0.0906 dividend. This represents a c) annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend was Monday, May 18th. This is a positive change from Invesco High Yield Equity Dividend Achievers ETF’s previous monthly dividend of $0.08.

Hedge Funds Weigh In On Invesco High Yield Equity Dividend Achievers ETF

Several hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. increased its position in shares of Invesco High Yield Equity Dividend Achievers ETF by 2.6% in the 3rd quarter. Raymond James Financial Inc. now owns 668,913 shares of the company’s stock valued at $14,092,000 after acquiring an additional 17,002 shares during the period. Investors Research Corp increased its position in shares of Invesco High Yield Equity Dividend Achievers ETF by 5.1% in the 4th quarter. Investors Research Corp now owns 359,092 shares of the company’s stock valued at $7,320,000 after acquiring an additional 17,584 shares during the period. UBS Group AG increased its position in shares of Invesco High Yield Equity Dividend Achievers ETF by 2.9% in the 4th quarter. UBS Group AG now owns 296,426 shares of the company’s stock valued at $6,043,000 after acquiring an additional 8,219 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Invesco High Yield Equity Dividend Achievers ETF by 155.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 268,216 shares of the company’s stock worth $5,469,000 after purchasing an additional 163,387 shares during the period. Finally, Royal Bank of Canada grew its position in Invesco High Yield Equity Dividend Achievers ETF by 28.2% during the 4th quarter. Royal Bank of Canada now owns 263,179 shares of the company’s stock worth $5,366,000 after purchasing an additional 57,841 shares during the period.

About Invesco High Yield Equity Dividend Achievers ETF

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. The Funds sector allocation includes consumers discretionary, consumer staples, energy, financials, healthcare, industrials, information technology, materials and telecommunication services.