Invesco Dividend Achievers ETF (NASDAQ:PFM) Sees Unusually-High Trading Volume – What’s Next?

Invesco Dividend Achievers ETF (NASDAQ:PFM) shares saw strong trading volume on Friday . 20,776 shares traded hands during mid-day trading, a decline of 35% from the previous session’s volume of 31,880 shares.The stock last traded at $45.52 and had previously closed at $45.88.

Invesco Dividend Achievers ETF Price Performance

The firm’s 50 day moving average price is $46.89 and its 200-day moving average price is $45.69. The firm has a market cap of $693.97 million, a price-to-earnings ratio of 22.62 and a beta of 0.83.

Invesco Dividend Achievers ETF Announces Dividend

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

Institutional Investors Weigh In On Invesco Dividend Achievers ETF

Several hedge funds have recently made changes to their positions in the stock. Raymond James & Associates increased its stake in Invesco Dividend Achievers ETF by 3.9% during the third quarter. Raymond James & Associates now owns 384,769 shares of the company’s stock valued at $17,911,000 after acquiring an additional 14,462 shares during the period. Stratos Wealth Partners LTD. increased its position 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 valued at $5,910,000 after purchasing an additional 22,261 shares during the period. Citizens Financial Group Inc. RI raised its stake in shares of Invesco Dividend Achievers ETF by 0.6% in 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 in the last quarter. CreativeOne Wealth LLC raised its stake in shares of 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 in the last quarter. Finally, MML Investors Services LLC lifted its position in Invesco Dividend Achievers ETF by 1.8% in the third quarter. MML Investors Services LLC now owns 58,741 shares of the company’s stock worth $2,734,000 after purchasing an additional 1,054 shares during the period.

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.