Invesco Dividend Achievers ETF (NASDAQ:PFM) Sees Unusually-High Trading Volume – Still a Buy?

Invesco Dividend Achievers ETF (NASDAQ:PFM) saw unusually-high trading volume on Wednesday . Approximately 305,438 shares changed hands 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 Performance

The company has a 50 day moving average of $46.86 and a 200-day moving average of $46.05. The stock has a market cap of $725.36 million, a price-to-earnings ratio of 22.62 and a beta of 0.83.

Invesco Dividend Achievers ETF Announces Dividend

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

Hedge Funds Weigh In On Invesco Dividend Achievers ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dorsey Wright & Associates purchased a new position in shares of Invesco Dividend Achievers ETF in the 3rd quarter valued at about $2,329,000. SteelPeak Wealth LLC raised its holdings in Invesco Dividend Achievers ETF by 229.5% in the fourth quarter. SteelPeak Wealth LLC now owns 56,947 shares of the company’s stock valued at $2,612,000 after acquiring an additional 39,664 shares in the last quarter. Miracle Mile Advisors LLC purchased a new position in Invesco Dividend Achievers ETF in the fourth quarter worth approximately $1,090,000. Stratos Wealth Partners LTD. grew its holdings in Invesco Dividend Achievers ETF by 21.3% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 126,968 shares of the company’s stock worth $5,910,000 after acquiring an additional 22,261 shares in the last quarter. Finally, Raymond James & Associates increased its position in shares of Invesco Dividend Achievers ETF by 3.9% in the 3rd quarter. Raymond James & Associates now owns 384,769 shares of the company’s stock valued at $17,911,000 after purchasing an additional 14,462 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.