Invesco Dividend Achievers ETF (NASDAQ:PFM) Reaches New 12-Month High – Here’s What Happened

Invesco Dividend Achievers ETF (NASDAQ:PFM)’s stock price reached a new 52-week high on Monday . The company traded as high as $48.07 and last traded at $48.06, with a volume of 2167 shares traded. The stock had previously closed at $47.68.

Invesco Dividend Achievers ETF Stock Performance

The stock has a 50-day moving average of $46.62 and a two-hundred day moving average of $44.67. The company has a market cap of $732.68 million, a P/E ratio of 22.62 and a beta of 0.83.

Invesco Dividend Achievers ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 23rd were paid a dividend of $0.173 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $0.69 annualized dividend and a dividend yield of 1.44%.

Institutional Investors Weigh In On Invesco Dividend Achievers ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James & Associates grew its position in shares of Invesco Dividend Achievers ETF by 59.6% during the 2nd quarter. Raymond James & Associates now owns 370,307 shares of the company’s stock valued at $15,801,000 after acquiring an additional 138,313 shares during the period. Waverly Advisors LLC purchased a new stake in Invesco Dividend Achievers ETF in the 1st quarter worth about $2,496,000. Dorsey Wright & Associates purchased a new stake in Invesco Dividend Achievers ETF in the 3rd quarter worth about $2,329,000. Atlas Private Wealth Advisors grew its stake in Invesco Dividend Achievers ETF by 52.8% in the 2nd quarter. Atlas Private Wealth Advisors now owns 139,730 shares of the company’s stock worth $5,962,000 after acquiring an additional 48,270 shares in the last quarter. Finally, Cetera Investment Advisers bought a new position in Invesco Dividend Achievers ETF in the 1st quarter worth about $2,013,000.

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.