Invesco Dividend Achievers ETF (NASDAQ:PFM) Reaches New 12-Month High – Here’s What Happened

Posted by Joseph McCarthy on Nov 25th, 2024

Invesco Dividend Achievers ETF (NASDAQ:PFM – Get Free Report) shares 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 trading hands. The stock had previously closed at $47.68.

Invesco Dividend Achievers ETF Stock Up 0.6 %

The company’s 50 day simple moving average is $46.62 and its two-hundred day simple moving average is $44.67. The company has a market capitalization of $732.68 million, a price-to-earnings 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. Investors 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 annualized dividend and a dividend yield of 1.44%.

Institutional Trading of Invesco Dividend Achievers ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PFM. Cullen Frost Bankers Inc. purchased a new position in Invesco Dividend Achievers ETF during the second quarter worth about $34,000. American Capital Advisory LLC acquired a new position in Invesco Dividend Achievers ETF during the 3rd quarter worth approximately $63,000. Ashton Thomas Private Wealth LLC acquired a new position in Invesco Dividend Achievers ETF during the 2nd quarter worth approximately $61,000. Paladin Wealth LLC acquired a new position in Invesco Dividend Achievers ETF during the 3rd quarter worth approximately $70,000. Finally, Simmons Bank acquired a new position in Invesco Dividend Achievers ETF during the 3rd quarter worth approximately $200,000.

About Invesco Dividend Achievers ETF

(Get Free Report)

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.