Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY) Sees Significant Decline in Short Interest

Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 159,200 shares, a decline of 23.3% from the October 15th total of 207,600 shares. Based on an average daily trading volume, of 182,700 shares, the days-to-cover ratio is currently 0.9 days.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PEY. Farther Finance Advisors LLC lifted its position in Invesco High Yield Equity Dividend Achievers ETF by 889.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,424 shares of the company’s stock worth $97,000 after buying an additional 3,977 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Invesco High Yield Equity Dividend Achievers ETF by 3.1% in the third quarter. Janney Montgomery Scott LLC now owns 58,755 shares of the company’s stock valued at $1,288,000 after purchasing an additional 1,786 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in shares of Invesco High Yield Equity Dividend Achievers ETF during the 2nd quarter worth approximately $967,000. Bristlecone Advisors LLC acquired a new position in shares of Invesco High Yield Equity Dividend Achievers ETF during the 2nd quarter worth approximately $106,000. Finally, IFG Advisory LLC raised its stake in shares of Invesco High Yield Equity Dividend Achievers ETF by 18.0% during the 2nd quarter. IFG Advisory LLC now owns 19,623 shares of the company’s stock worth $385,000 after purchasing an additional 2,997 shares in the last quarter.

Invesco High Yield Equity Dividend Achievers ETF Stock Performance

Shares of NASDAQ:PEY remained flat at $22.08 during midday trading on Friday. 158,523 shares of the company were exchanged, compared to its average volume of 252,971. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 14.21 and a beta of 0.87. Invesco High Yield Equity Dividend Achievers ETF has a fifty-two week low of $19.14 and a fifty-two week high of $22.46. The stock’s fifty day moving average price is $21.77 and its two-hundred day moving average price is $20.92.

Invesco High Yield Equity Dividend Achievers ETF Increases Dividend

The company also recently declared a monthly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 21st were issued a $0.09 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.89%. This is a positive change from Invesco High Yield Equity Dividend Achievers ETF’s previous monthly dividend of $0.07. The ex-dividend date was Monday, October 21st.

About Invesco High Yield Equity Dividend Achievers ETF

PowerShares High Yield Equity Dividend Achiever Portfolio (the Fund) is based on the Mergent Dividend Achiever 50 Index (the Index). The Fund focuses to invest at least 90% of its total assets in dividend paying common stocks, which comprise the Index. The Index is comprised of 50 stocks selected principally on the basis of dividend yield and consistent growth in dividends.