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

Invesco Dividend Achievers ETF (NASDAQ:PFM) hit a new 52-week high on Wednesday. The company traded as high as $59.19 and last traded at $59.1060, with a volume of 2,827 shares. The stock had previously closed at $58.29.

Invesco Dividend Achievers ETF Stock Performance

The stock has a fifty day simple moving average of $56.61 and a 200-day simple moving average of $54.87. The stock has a market cap of $829.96 million, a P/E ratio of 23.20 and a beta of 0.77.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. GreatBanc Trust CO acquired a new stake in Invesco Dividend Achievers ETF in the 3rd quarter valued at approximately $667,000. Carret Asset Management LLC bought a new stake in Invesco Dividend Achievers ETF in the 3rd quarter valued at approximately $357,000. Ashton Thomas Private Wealth LLC bought a new stake in Invesco Dividend Achievers ETF in the 3rd quarter valued at approximately $78,000. Financial Council LLC acquired a new position in Invesco Dividend Achievers ETF during the 3rd quarter worth approximately $242,000. Finally, Kestra Advisory Services LLC acquired a new position in Invesco Dividend Achievers ETF during the 3rd quarter worth approximately $837,000.

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.