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

Shares of Invesco Dividend Achievers ETF (NASDAQ:PFM) hit a new 52-week high on Monday . The stock traded as high as $48.07 and last traded at $48.06, with a volume of 2167 shares traded. The stock had previously closed at $47.68.

Invesco Dividend Achievers ETF Price Performance

The firm has a market cap of $734.20 million, a price-to-earnings ratio of 22.62 and a beta of 0.83. The firm has a fifty day simple moving average of $46.69 and a two-hundred day simple moving average of $44.75.

Invesco Dividend Achievers ETF Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 23rd were given a dividend of $0.173 per share. This represents a $0.69 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend was Monday, September 23rd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cullen Frost Bankers Inc. acquired a new position in shares of Invesco Dividend Achievers ETF in the 2nd quarter valued at $34,000. Ashton Thomas Private Wealth LLC purchased a new stake in Invesco Dividend Achievers ETF during the 2nd quarter valued at about $61,000. American Capital Advisory LLC acquired a new position in shares of Invesco Dividend Achievers ETF in the third quarter valued at about $63,000. Paladin Wealth LLC purchased a new position in shares of Invesco Dividend Achievers ETF in the third quarter worth about $70,000. Finally, Simmons Bank acquired a new stake in shares of Invesco Dividend Achievers ETF during the third quarter worth about $200,000.

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.