Invesco Dividend Achievers ETF (NASDAQ:PFM) Sets New 1-Year High – Should You Buy?

Invesco Dividend Achievers ETF (NASDAQ:PFM) reached a new 52-week high on Wednesday . The stock traded as high as $46.63 and last traded at $46.56, with a volume of 330396 shares traded. The stock had previously closed at $46.14.

Invesco Dividend Achievers ETF Trading Up 1.0 %

The stock has a market capitalization of $726.81 million, a price-to-earnings ratio of 22.62 and a beta of 0.83. The business has a 50 day simple moving average of $45.24 and a 200-day simple moving average of $43.43.

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 $0.173 dividend. The ex-dividend date was Monday, September 23rd. This represents a $0.69 dividend on an annualized basis and a yield of 1.48%.

Hedge Funds Weigh In On Invesco Dividend Achievers ETF

A number of hedge funds have recently made changes to their positions in PFM. United Advisor Group LLC acquired a new position in Invesco Dividend Achievers ETF in the fourth quarter valued at $333,000. Commonwealth Equity Services LLC lifted its stake in shares of Invesco Dividend Achievers ETF by 5.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 136,083 shares of the company’s stock valued at $5,793,000 after purchasing an additional 6,830 shares in the last quarter. J.W. Cole Advisors Inc. purchased a new stake in shares of Invesco Dividend Achievers ETF during the 1st quarter worth about $1,360,000. Avantax Advisory Services Inc. grew its holdings in shares of Invesco Dividend Achievers ETF by 18.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 34,622 shares of the company’s stock worth $1,474,000 after purchasing an additional 5,398 shares during the period. Finally, CreativeOne Wealth LLC increased its position in Invesco Dividend Achievers ETF by 10.4% during the 1st quarter. CreativeOne Wealth LLC now owns 53,045 shares of the company’s stock worth $2,258,000 after purchasing an additional 4,988 shares in the last quarter.

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.