Invesco Dividend Achievers ETF (NASDAQ:PFM) Sets New 12-Month High – Still a Buy?

Invesco Dividend Achievers ETF (NASDAQ:PFM) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $47.22 and last traded at $47.22, with a volume of 4055 shares trading hands. The stock had previously closed at $47.16.

Invesco Dividend Achievers ETF Stock Performance

The business has a 50-day simple moving average of $45.48 and a two-hundred day simple moving average of $43.56. The stock has a market cap of $732.58 million, a price-to-earnings ratio of 22.62 and a beta of 0.83.

Invesco Dividend Achievers ETF Cuts Dividend

The business also recently disclosed 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. This represents a $0.69 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Monday, September 23rd.

Institutional Investors Weigh In On Invesco Dividend Achievers ETF

Institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James & Associates raised its stake in Invesco Dividend Achievers ETF by 59.6% in 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 bought a new stake in Invesco Dividend Achievers ETF in the 1st quarter valued at $2,496,000. Atlas Private Wealth Advisors raised 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 valued at $5,962,000 after acquiring an additional 48,270 shares during the period. Cetera Investment Advisers bought a new stake in Invesco Dividend Achievers ETF in the 1st quarter valued at $2,013,000. Finally, J.W. Cole Advisors Inc. bought a new stake in Invesco Dividend Achievers ETF in the 1st quarter valued at $1,360,000.

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.