Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY) Reaches New 12-Month High – Should You Buy?

Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY)’s share price reached a new 52-week high on Wednesday. The company traded as high as $25.49 and last traded at $25.4570, with a volume of 670,376 shares changing hands. The stock had previously closed at $24.56.

Invesco High Yield Equity Dividend Achievers ETF Stock Performance

The company has a market cap of $1.15 billion, a PE ratio of 13.11 and a beta of 0.66. The stock’s 50 day moving average price is $23.82 and its 200-day moving average price is $22.92.

Invesco High Yield Equity Dividend Achievers ETF Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Friday, August 28th. Investors of record on Monday, August 24th were issued a dividend of $0.0932 per share. This represents a $1.12 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Monday, August 24th.

Institutional Investors Weigh In On Invesco High Yield Equity Dividend Achievers ETF

Institutional investors have recently bought and sold shares of the company. AlphaCore Capital LLC grew its holdings in Invesco High Yield Equity Dividend Achievers ETF by 2.3% in the 3rd quarter. AlphaCore Capital LLC now owns 171,636 shares of the company’s stock valued at $3,916,000 after buying an additional 3,873 shares during the period. Commonwealth Equity Services LLC acquired a new stake in shares of Invesco High Yield Equity Dividend Achievers ETF during the third quarter worth $3,045,000. Chicago Partners Investment Group LLC acquired a new position in Invesco High Yield Equity Dividend Achievers ETF in the 3rd quarter valued at approximately $314,000. MeadowBrook Investment Advisors LLC acquired a new position in Invesco High Yield Equity Dividend Achievers ETF during the third quarter valued at approximately $97,000. Finally, International Assets Investment Management LLC increased its holdings in shares of Invesco High Yield Equity Dividend Achievers ETF by 60.4% during the 3rd quarter. International Assets Investment Management LLC now owns 40,570 shares of the company’s stock worth $925,000 after purchasing an additional 15,277 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.