Invesco Dividend Achievers ETF (NASDAQ:PFM) Sees Unusually-High Trading Volume

Shares of Invesco Dividend Achievers ETF (NASDAQ:PFM) saw unusually-strong trading volume on Wednesday . Approximately 167,359 shares traded hands during mid-day trading, an increase of 550% from the previous session’s volume of 25,756 shares.The stock last traded at $44.82 and had previously closed at $45.37.

Invesco Dividend Achievers ETF Price Performance

The firm has a market cap of $688.72 million, a PE ratio of 22.62 and a beta of 0.83. The company has a 50-day simple moving average of $44.27 and a 200-day simple moving average of $42.82.

Invesco Dividend Achievers ETF Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 24th were issued a dividend of $0.1922 per share. The ex-dividend date was Monday, June 24th. This represents a $0.77 dividend on an annualized basis and a yield of 1.69%. This is a boost from Invesco Dividend Achievers ETF’s previous quarterly dividend of $0.18.

Institutional Trading of Invesco Dividend Achievers ETF

A number of large investors have recently made changes to their positions in PFM. Cullen Frost Bankers Inc. bought a new stake in Invesco Dividend Achievers ETF during the 2nd quarter valued at $34,000. Tidemark LLC purchased a new stake in Invesco Dividend Achievers ETF in the fourth quarter valued at about $47,000. Ashton Thomas Private Wealth LLC acquired a new stake in Invesco Dividend Achievers ETF in the second quarter worth about $61,000. Consolidated Planning Corp purchased a new stake in shares of Invesco Dividend Achievers ETF during the second quarter worth about $275,000. Finally, Steward Partners Investment Solutions LLC acquired a new position in shares of Invesco Dividend Achievers ETF during the fourth quarter valued at about $288,000.

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.