Invesco Dividend Achievers ETF (NASDAQ:PFM) Reaches New 1-Year 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 $53.07 and last traded at $53.0760, with a volume of 5341 shares changing hands. The stock had previously closed at $52.75.

Invesco Dividend Achievers ETF Stock Up 0.8%

The company has a market cap of $773.41 million, a PE ratio of 23.20 and a beta of 0.82. The stock has a 50-day moving average of $52.20 and a 200-day moving average of $50.87.

Invesco Dividend Achievers ETF Increases Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. CWM LLC raised its stake in Invesco Dividend Achievers ETF by 58.0% in the second quarter. CWM LLC now owns 689 shares of the company’s stock valued at $33,000 after purchasing an additional 253 shares in the last quarter. Sound Income Strategies LLC purchased a new position in Invesco Dividend Achievers ETF in the 4th quarter worth approximately $59,000. Allspring Global Investments Holdings LLC bought a new position in shares of Invesco Dividend Achievers ETF in the 4th quarter worth $83,000. International Assets Investment Management LLC purchased a new stake in shares of Invesco Dividend Achievers ETF during the 4th quarter valued at $86,000. Finally, Allworth Financial LP raised its position in shares of Invesco Dividend Achievers ETF by 22.2% during the 3rd quarter. Allworth Financial LP now owns 3,184 shares of the company’s stock valued at $162,000 after buying an additional 579 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.