Invesco Dividend Achievers ETF (NASDAQ:PFM) Sees Strong Trading Volume – Here’s What Happened

Invesco Dividend Achievers ETF (NASDAQ:PFM) saw strong trading volume on Friday . 106,602 shares were traded during mid-day trading, an increase of 276% from the previous session’s volume of 28,362 shares.The stock last traded at $51.6790 and had previously closed at $51.43.

Invesco Dividend Achievers ETF Trading Up 0.5%

The firm has a market capitalization of $743.30 million, a PE ratio of 23.20 and a beta of 0.82. The firm has a 50 day simple moving average of $51.14 and a 200 day simple moving average of $49.77.

Hedge Funds Weigh In On Invesco Dividend Achievers ETF

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC grew its stake in shares of Invesco Dividend Achievers ETF by 58.0% in the second quarter. CWM LLC now owns 689 shares of the company’s stock worth $33,000 after acquiring an additional 253 shares during the period. Allworth Financial LP boosted its holdings in Invesco Dividend Achievers ETF by 22.2% in the third quarter. Allworth Financial LP now owns 3,184 shares of the company’s stock worth $162,000 after purchasing an additional 579 shares during the last quarter. Briaud Financial Planning Inc bought a new stake in Invesco Dividend Achievers ETF in the 2nd quarter worth approximately $187,000. Sovran Advisors LLC purchased a new stake in Invesco Dividend Achievers ETF during the 2nd quarter valued at $231,000. Finally, Caldwell Trust Co purchased a new stake in Invesco Dividend Achievers ETF during the 2nd quarter valued at $296,000.

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.