Invesco BuyBack Achievers ETF (NASDAQ:PKW) Sees Large Volume Increase Following Dividend Announcement

Invesco BuyBack Achievers ETF (NASDAQ:PKW) shares saw unusually-high trading volume on Tuesday following a dividend announcement from the company. Approximately 35,636 shares traded hands during mid-day trading, an increase of 90% from the previous session’s volume of 18,792 shares.The stock last traded at $115.52 and had previously closed at $115.38.

The newly announced dividend which will be paid on Friday, March 28th. Investors of record on Monday, March 24th will be issued a $0.3078 dividend. This is an increase from Invesco BuyBack Achievers ETF’s previous dividend of $0.22. The ex-dividend date of this dividend is Monday, March 24th.

Invesco BuyBack Achievers ETF Stock Up 0.1 %

The firm’s 50-day moving average price is $116.98 and its 200-day moving average price is $116.90. The company has a market cap of $1.23 billion, a P/E ratio of 14.74 and a beta of 1.09.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Grove Bank & Trust bought a new position in Invesco BuyBack Achievers ETF in the fourth quarter valued at $35,000. Venturi Wealth Management LLC purchased a new position in shares of Invesco BuyBack Achievers ETF in the fourth quarter worth $43,000. Crews Bank & Trust bought a new stake in Invesco BuyBack Achievers ETF during the 4th quarter valued at $46,000. Millstone Evans Group LLC purchased a new stake in Invesco BuyBack Achievers ETF during the 4th quarter valued at $48,000. Finally, Noble Wealth Management PBC bought a new stake in Invesco BuyBack Achievers ETF in the 4th quarter worth $54,000.

About Invesco BuyBack Achievers ETF

PowerShares Buyback Achievers Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Share BuyBack Achievers Index (the Index). The Index is designed to track the performance of companies that meet the requirements to be classified as BuyBack Achievers. To become eligible for inclusion in the Index, a company must be incorporated in the United States, trade on a United States exchange and must have repurchased at least 5% or more of its outstanding shares for the trailing 12 months.