Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY) Reaches New 52-Week High – Time to Buy?

Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $23.24 and last traded at $23.05, with a volume of 227021 shares. The stock had previously closed at $22.96.

Invesco High Yield Equity Dividend Achievers ETF Stock Up 0.4%

The company has a market cap of $1.09 billion, a P/E ratio of 13.11 and a beta of 0.66. The company’s 50-day moving average is $22.06 and its two-hundred day moving average is $21.46.

Invesco High Yield Equity Dividend Achievers ETF Increases Dividend

The business also recently declared a monthly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 18th were given a dividend of $0.0906 per share. The ex-dividend date was Monday, May 18th. This is an increase from Invesco High Yield Equity Dividend Achievers ETF’s previous monthly dividend of $0.08. This represents a c) annualized dividend and a yield of 4.7%.

Hedge Funds Weigh In On Invesco High Yield Equity Dividend Achievers ETF

Several institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank grew its position in Invesco High Yield Equity Dividend Achievers ETF by 0.7% during the fourth quarter. Comerica Bank now owns 78,115 shares of the company’s stock valued at $1,592,000 after buying an additional 522 shares during the period. Sovereign Financial Group Inc. increased its position in Invesco High Yield Equity Dividend Achievers ETF by 2.7% in the first quarter. Sovereign Financial Group Inc. now owns 20,198 shares of the company’s stock worth $433,000 after buying an additional 526 shares during the last quarter. Stolper Co increased its position in Invesco High Yield Equity Dividend Achievers ETF by 1.8% in the fourth quarter. Stolper Co now owns 30,267 shares of the company’s stock worth $617,000 after buying an additional 548 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in Invesco High Yield Equity Dividend Achievers ETF by 1.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 35,547 shares of the company’s stock worth $725,000 after buying an additional 584 shares during the last quarter. Finally, Mariner LLC increased its position in Invesco High Yield Equity Dividend Achievers ETF by 1.4% in the third quarter. Mariner LLC now owns 42,121 shares of the company’s stock worth $887,000 after buying an additional 597 shares during the last quarter.

About Invesco High Yield Equity Dividend Achievers ETF

PowerShares High Yield Equity Dividend Achiever Portfolio (the Fund) is based on the Mergent Dividend Achiever 50 Index (the Index). The Fund focuses to invest at least 90% of its total assets in dividend paying common stocks, which comprise the Index. The Index is comprised of 50 stocks selected principally on the basis of dividend yield and consistent growth in dividends. The Funds sector allocation includes consumers discretionary, consumer staples, energy, financials, healthcare, industrials, information technology, materials and telecommunication services.