Invesco Dividend Achievers ETF (NASDAQ:PFM) Sees Strong Trading Volume – Here’s Why

Invesco Dividend Achievers ETF (NASDAQ:PFM) shares saw unusually-high trading volume on Wednesday . Approximately 305,438 shares were traded during mid-day trading, an increase of 425% from the previous session’s volume of 58,226 shares.The stock last traded at $47.25 and had previously closed at $47.36.

Invesco Dividend Achievers ETF Stock Down 0.3 %

The firm has a market cap of $725.36 million, a PE ratio of 22.62 and a beta of 0.83. The stock has a 50 day moving average price of $46.86 and a two-hundred day moving average price of $46.05.

Invesco Dividend Achievers ETF Dividend Announcement

The business also recently announced a dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 23rd were given a dividend of $0.1813 per share. The ex-dividend date was Monday, December 23rd.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Raymond James & Associates boosted its position in Invesco Dividend Achievers ETF by 3.9% in the third quarter. Raymond James & Associates now owns 384,769 shares of the company’s stock valued at $17,911,000 after buying an additional 14,462 shares during the last quarter. Atria Wealth Solutions Inc. increased its stake in shares of Invesco Dividend Achievers ETF by 3.9% in the fourth quarter. Atria Wealth Solutions Inc. now owns 232,598 shares of the company’s stock worth $10,667,000 after acquiring an additional 8,758 shares during the period. Stratos Wealth Partners LTD. raised its holdings in shares of Invesco Dividend Achievers ETF by 21.3% during the third quarter. Stratos Wealth Partners LTD. now owns 126,968 shares of the company’s stock worth $5,910,000 after purchasing an additional 22,261 shares during the last quarter. Citizens Financial Group Inc. RI lifted its position in Invesco Dividend Achievers ETF by 0.6% during the third quarter. Citizens Financial Group Inc. RI now owns 118,692 shares of the company’s stock valued at $5,525,000 after purchasing an additional 753 shares during the period. Finally, CreativeOne Wealth LLC boosted its holdings in Invesco Dividend Achievers ETF by 2.3% in the third quarter. CreativeOne Wealth LLC now owns 59,447 shares of the company’s stock valued at $2,767,000 after purchasing an additional 1,361 shares during the last quarter.

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.