Invesco Dividend Achievers ETF (NASDAQ:PFM) Sets New 52-Week High – Time to Buy?

Invesco Dividend Achievers ETF (NASDAQ:PFM) shares reached a new 52-week high during trading on Monday . The company traded as high as $54.21 and last traded at $53.9810, with a volume of 1053 shares traded. The stock had previously closed at $53.08.

Invesco Dividend Achievers ETF Trading Down 0.0%

The stock has a 50 day moving average price of $52.26 and a two-hundred day moving average price of $50.95. The company has a market cap of $781.64 million, a price-to-earnings ratio of 23.20 and a beta of 0.82.

Invesco Dividend Achievers ETF Increases Dividend

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

Hedge Funds Weigh In On Invesco Dividend Achievers ETF

Several institutional investors have recently modified their holdings of PFM. Raymond James Financial Inc. raised its position in shares of Invesco Dividend Achievers ETF by 0.4% in the 2nd quarter. Raymond James Financial Inc. now owns 846,279 shares of the company’s stock valued at $40,765,000 after acquiring an additional 3,596 shares during the period. Flaharty Asset Management LLC increased its stake in Invesco Dividend Achievers ETF by 0.3% in the fourth quarter. Flaharty Asset Management LLC now owns 501,524 shares of the company’s stock valued at $25,831,000 after purchasing an additional 1,425 shares in the last quarter. Bank of America Corp DE raised its holdings in Invesco Dividend Achievers ETF by 0.7% in the third quarter. Bank of America Corp DE now owns 275,362 shares of the company’s stock worth $13,972,000 after purchasing an additional 1,809 shares during the period. CPC Advisors LLC acquired a new stake in Invesco Dividend Achievers ETF in the fourth quarter worth $7,851,000. Finally, Jones Financial Companies Lllp boosted its position in shares of Invesco Dividend Achievers ETF by 6.0% during the third quarter. Jones Financial Companies Lllp now owns 148,265 shares of the company’s stock worth $7,482,000 after purchasing an additional 8,410 shares in 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.