Invesco Dividend Achievers ETF (NASDAQ:PFM) Sets New 1-Year High – Still a Buy?

Shares of Invesco Dividend Achievers ETF (NASDAQ:PFM) hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as $59.19 and last traded at $59.1060, with a volume of 2,827 shares changing hands. The stock had previously closed at $58.29.

Invesco Dividend Achievers ETF Stock Performance

The company has a 50-day moving average price of $56.61 and a 200-day moving average price of $54.87. The firm has a market capitalization of $829.96 million, a P/E ratio of 23.20 and a beta of 0.77.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Focus Financial Network Inc. lifted its stake in Invesco Dividend Achievers ETF by 0.3% in the second quarter. Focus Financial Network Inc. now owns 113,600 shares of the company’s stock valued at $6,300,000 after buying an additional 326 shares in the last quarter. Citizens Financial Group Inc. RI acquired a new position in shares of Invesco Dividend Achievers ETF in the third quarter valued at approximately $4,605,000. Choreo LLC bought a new stake in shares of Invesco Dividend Achievers ETF during the third quarter worth $4,353,000. TD Waterhouse Canada Inc. bought a new stake in shares of Invesco Dividend Achievers ETF during the third quarter worth $4,175,000. Finally, Royal Bank of Canada increased its position in shares of Invesco Dividend Achievers ETF by 4.4% during the first quarter. Royal Bank of Canada now owns 73,958 shares of the company’s stock worth $3,778,000 after acquiring an additional 3,114 shares in the last quarter.

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.