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

Invesco Dividend Achievers ETF (NASDAQ:PFM) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $52.09 and last traded at $52.01, with a volume of 42603 shares. The stock had previously closed at $51.50.

Invesco Dividend Achievers ETF Price Performance

The firm has a market cap of $747.33 million, a PE ratio of 23.20 and a beta of 0.82. The firm has a 50-day simple moving average of $51.10 and a 200 day simple moving average of $49.62.

Invesco Dividend Achievers ETF Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Monday, September 22nd were paid a dividend of $0.1719 per share. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $0.69 annualized dividend and a yield of 1.3%.

Hedge Funds Weigh In On Invesco Dividend Achievers ETF

Several large investors have recently made changes to their positions in the business. Townsquare Capital LLC boosted its position in shares of Invesco Dividend Achievers ETF by 15.2% in the 1st quarter. Townsquare Capital LLC now owns 7,606 shares of the company’s stock worth $348,000 after purchasing an additional 1,005 shares in the last quarter. Raymond James Financial Inc. boosted its holdings in Invesco Dividend Achievers ETF by 1.2% in the first quarter. Raymond James Financial Inc. now owns 842,683 shares of the company’s stock worth $38,578,000 after acquiring an additional 9,839 shares in the last quarter. CW Advisors LLC bought a new stake in Invesco Dividend Achievers ETF in the first quarter worth $393,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Invesco Dividend Achievers ETF by 13.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 8,838 shares of the company’s stock worth $405,000 after acquiring an additional 1,022 shares during the last quarter. Finally, CreativeOne Wealth LLC increased its holdings in shares of Invesco Dividend Achievers ETF by 8.4% during the first quarter. CreativeOne Wealth LLC now owns 63,466 shares of the company’s stock valued at $2,905,000 after acquiring an additional 4,917 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.