Short Interest in Invesco Dividend Achievers ETF (NASDAQ:PFM) Increases By 137.4%

Invesco Dividend Achievers ETF (NASDAQ:PFM) was the target of a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 28,837 shares, a growth of 137.4% from the July 30th total of 12,145 shares. Based on an average daily trading volume, of 18,666 shares, the short-interest ratio is presently 1.5 days. Approximately 0.2% of the company’s shares are short sold.

Invesco Dividend Achievers ETF Price Performance

Shares of PFM stock traded down $0.10 during trading hours on Friday, reaching $57.24. The company had a trading volume of 4,517 shares, compared to its average volume of 24,636. Invesco Dividend Achievers ETF has a 1-year low of $49.14 and a 1-year high of $58.18. The company has a 50 day moving average of $56.46 and a 200 day moving average of $54.52. The firm has a market cap of $802.50 million, a price-to-earnings ratio of 23.20 and a beta of 0.77.

Invesco Dividend Achievers ETF Dividend Announcement

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

Hedge Funds Weigh In On Invesco Dividend Achievers ETF

Several institutional investors have recently modified their holdings of PFM. HB Wealth Management LLC bought a new stake in Invesco Dividend Achievers ETF during the 2nd quarter worth approximately $235,000. City Holding Co. acquired a new stake in shares of Invesco Dividend Achievers ETF in the 2nd quarter valued at approximately $58,000. Focus Financial Network Inc. increased its holdings in shares of Invesco Dividend Achievers ETF by 0.3% during 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 last quarter. Eastern Bank lifted its position in Invesco Dividend Achievers ETF by 128.4% during the second quarter. Eastern Bank now owns 12,569 shares of the company’s stock worth $697,000 after acquiring an additional 7,067 shares during the last quarter. Finally, Western Wealth Management LLC bought a new position in Invesco Dividend Achievers ETF during the 1st quarter worth $77,000.

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.