Invesco Dividend Achievers ETF (NASDAQ:PFM) Hits New 52-Week High – Here’s What Happened

Invesco Dividend Achievers ETF (NASDAQ:PFM) hit a new 52-week high during mid-day trading on Thursday. The stock traded as high as $58.20 and last traded at $58.55, with a volume of 1,311 shares. The stock had previously closed at $57.66.

Invesco Dividend Achievers ETF Stock Down 0.4%

The stock’s 50 day moving average is $56.58 and its 200 day moving average is $54.82. The firm has a market cap of $815.71 million, a price-to-earnings ratio of 23.20 and a beta of 0.77.

Institutional Investors Weigh In On Invesco Dividend Achievers ETF

A number of large investors have recently made changes to their positions in the company. Waverly Advisors LLC increased its position in Invesco Dividend Achievers ETF by 0.4% in the 1st quarter. Waverly Advisors LLC now owns 46,732 shares of the company’s stock valued at $2,388,000 after acquiring an additional 192 shares in the last quarter. Sovran Advisors LLC grew its position in shares of Invesco Dividend Achievers ETF by 4.0% during the 1st quarter. Sovran Advisors LLC now owns 5,711 shares of the company’s stock worth $309,000 after buying an additional 222 shares during the period. Focus Financial Network Inc. increased its stake in Invesco Dividend Achievers ETF by 0.3% in the second quarter. Focus Financial Network Inc. now owns 113,600 shares of the company’s stock valued at $6,300,000 after purchasing an additional 326 shares in the last quarter. Citadel Advisors LLC lifted its holdings in Invesco Dividend Achievers ETF by 6.2% during the second quarter. Citadel Advisors LLC now owns 9,243 shares of the company’s stock worth $513,000 after acquiring an additional 538 shares in the last quarter. Finally, Fifth Third Bancorp acquired a new position in shares of Invesco Dividend Achievers ETF in the 1st quarter valued at approximately $28,000.

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. The portfolio is rebalanced quarterly and reconstituted annually. The Fund will normally invest at least 90% of its total assets in dividend paying common stocks that comprise Index.