Invesco Dividend Achievers ETF (NASDAQ:PFM) Hits New 1-Year High – What’s Next?

Shares of Invesco Dividend Achievers ETF (NASDAQ:PFM) hit a new 52-week high during trading on Monday . The company traded as high as $57.73 and last traded at $57.73, with a volume of 1213 shares trading hands. The stock had previously closed at $57.61.

Invesco Dividend Achievers ETF Price Performance

The company has a fifty day moving average price of $55.89 and a 200 day moving average price of $54.12. The company has a market capitalization of $810.36 million, a P/E ratio of 23.20 and a beta of 0.77.

Invesco Dividend Achievers ETF Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Monday, June 22nd were paid a dividend of $0.1929 per share. This represents a $0.77 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Monday, June 22nd.

Institutional Investors Weigh In On Invesco Dividend Achievers ETF

Several large investors have recently added to or reduced their stakes in PFM. City Holding Co. acquired a new position in shares of Invesco Dividend Achievers ETF during the second quarter valued at $58,000. Focus Financial Network Inc. increased its holdings in shares of Invesco Dividend Achievers ETF by 0.3% in the 2nd quarter. Focus Financial Network Inc. now owns 113,600 shares of the company’s stock worth $6,300,000 after acquiring an additional 326 shares during the period. Eastern Bank lifted its position in Invesco Dividend Achievers ETF by 128.4% in the 2nd quarter. Eastern Bank now owns 12,569 shares of the company’s stock valued at $697,000 after purchasing an additional 7,067 shares during the last quarter. Western Wealth Management LLC bought a new stake in Invesco Dividend Achievers ETF in the 1st quarter valued at about $77,000. Finally, Royal Bank of Canada boosted its stake in Invesco Dividend Achievers ETF by 4.4% during the 1st quarter. Royal Bank of Canada now owns 73,958 shares of the company’s stock valued at $3,778,000 after purchasing an additional 3,114 shares during the period.

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.