Invesco Dividend Achievers ETF (NASDAQ:PFM) Hits New 12-Month High – What’s Next?

Invesco Dividend Achievers ETF (NASDAQ:PFM) hit a new 52-week high on Thursday . The company traded as high as $47.41 and last traded at $47.29, with a volume of 1815 shares traded. The stock had previously closed at $47.25.

Invesco Dividend Achievers ETF Price Performance

The firm has a 50-day moving average of $46.21 and a 200 day moving average of $44.15. The company has a market capitalization of $722.44 million, a PE ratio of 22.62 and a beta of 0.83.

Invesco Dividend Achievers ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 23rd were issued a dividend of $0.173 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $0.69 dividend on an annualized basis and a yield of 1.46%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PFM. Simmons Bank bought a new position in shares of Invesco Dividend Achievers ETF during the 3rd quarter valued at about $200,000. Atria Investments Inc purchased a new stake in shares of Invesco Dividend Achievers ETF in the third quarter valued at $268,000. American Capital Advisory LLC purchased a new position in shares of Invesco Dividend Achievers ETF during the third quarter valued at approximately $63,000. Hanlon Investment Management Inc. purchased a new stake in Invesco Dividend Achievers ETF in the third quarter worth $560,000. Finally, Raymond James & Associates increased its stake in Invesco Dividend Achievers ETF by 3.9% in the 3rd quarter. Raymond James & Associates now owns 384,769 shares of the company’s stock worth $17,911,000 after buying an additional 14,462 shares during the period.

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.