Invesco Dividend Achievers ETF (NASDAQ:PFM) Sets New 1-Year High – Here’s What Happened

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

Invesco Dividend Achievers ETF Stock Up 0.2 %

The company has a market capitalization of $734.20 million, a price-to-earnings ratio of 22.62 and a beta of 0.83. The business’s 50-day moving average is $46.69 and its 200-day moving average is $44.75.

Invesco Dividend Achievers ETF Cuts Dividend

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

Hedge Funds Weigh In On Invesco Dividend Achievers ETF

Large investors have recently bought and sold shares of the business. Cullen Frost Bankers Inc. acquired a new position in Invesco Dividend Achievers ETF during the second quarter worth $34,000. Ashton Thomas Private Wealth LLC acquired a new stake in Invesco Dividend Achievers ETF in the 2nd quarter worth about $61,000. American Capital Advisory LLC acquired a new position in shares of Invesco Dividend Achievers ETF during the third quarter valued at approximately $63,000. Paladin Wealth LLC acquired a new stake in shares of Invesco Dividend Achievers ETF in the third quarter worth approximately $70,000. Finally, Simmons Bank purchased a new stake in shares of Invesco Dividend Achievers ETF during the third quarter worth approximately $200,000.

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.