Invesco Dividend Achievers ETF (NASDAQ:PFM) Reaches New 12-Month High – Here’s Why

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

Invesco Dividend Achievers ETF Stock Performance

The stock has a fifty day simple moving average of $52.51 and a two-hundred day simple moving average of $52.29. The stock has a market cap of $770.65 million, a price-to-earnings ratio of 23.20 and a beta of 0.78.

Invesco Dividend Achievers ETF Increases Dividend

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

Institutional Investors Weigh In On Invesco Dividend Achievers ETF

Large investors have recently modified their holdings of the business. CPC Advisors LLC acquired a new stake in shares of Invesco Dividend Achievers ETF during the 4th quarter valued at $7,851,000. Cape ANN Savings Bank bought a new position in Invesco Dividend Achievers ETF during the 4th quarter worth $783,000. Flaharty Asset Management LLC bought a new position in Invesco Dividend Achievers ETF during the 3rd quarter worth $25,379,000. Sovran Advisors LLC raised its position in shares of Invesco Dividend Achievers ETF by 10.4% in the 3rd quarter. Sovran Advisors LLC now owns 5,245 shares of the company’s stock worth $267,000 after acquiring an additional 496 shares in the last quarter. Finally, TD Waterhouse Canada Inc. raised its position in shares of Invesco Dividend Achievers ETF by 5.2% in the 4th quarter. TD Waterhouse Canada Inc. now owns 99,659 shares of the company’s stock worth $5,129,000 after acquiring an additional 4,955 shares in the last quarter.

About Invesco Dividend Achievers ETF

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.