Invesco Dividend Achievers ETF (NASDAQ:PFM) Hits New 1-Year High – Still a Buy?

Invesco Dividend Achievers ETF (NASDAQ:PFM) shares hit a new 52-week high on Wednesday. The stock traded as high as $59.19 and last traded at $59.1060, with a volume of 2,827 shares traded. The stock had previously closed at $58.29.

Invesco Dividend Achievers ETF Trading Down 3.0%

The business’s 50 day simple moving average is $56.65 and its 200 day simple moving average is $54.93. The firm has a market capitalization of $804.78 million, a PE ratio of 24.36 and a beta of 0.76.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PFM. Waverly Advisors LLC grew its holdings in Invesco Dividend Achievers ETF by 0.4% during the 1st quarter. Waverly Advisors LLC now owns 46,732 shares of the company’s stock valued at $2,388,000 after purchasing an additional 192 shares during the last quarter. Sovran Advisors LLC raised its position in Invesco Dividend Achievers ETF by 4.0% in the 1st quarter. Sovran Advisors LLC now owns 5,711 shares of the company’s stock worth $309,000 after purchasing an additional 222 shares during the period. Focus Financial Network Inc. raised its position in Invesco Dividend Achievers ETF by 0.3% in the 2nd quarter. Focus Financial Network Inc. now owns 113,600 shares of the company’s stock worth $6,300,000 after purchasing an additional 326 shares during the period. Citadel Advisors LLC raised its position in Invesco Dividend Achievers ETF by 6.2% in the 2nd quarter. Citadel Advisors LLC now owns 9,243 shares of the company’s stock worth $513,000 after purchasing an additional 538 shares during the period. Finally, Fifth Third Bancorp bought a new stake in Invesco Dividend Achievers ETF in the first quarter worth about $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.