Invesco Dividend Achievers ETF (NASDAQ:PFM) Sees Large Volume Increase – Should You Buy?

Invesco Dividend Achievers ETF (NASDAQ:PFM) saw strong trading volume on Wednesday . 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 market cap of $719.02 million, a PE ratio of 22.62 and a beta of 0.83. The company has a 50 day simple moving average of $46.85 and a two-hundred day simple moving average of $46.03.

Invesco Dividend Achievers ETF Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Raymond James & Associates raised its position in shares of Invesco Dividend Achievers ETF by 3.9% in the third 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 period. Stratos Wealth Partners LTD. raised its holdings in Invesco Dividend Achievers ETF by 21.3% in 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 during the period. Citizens Financial Group Inc. RI lifted its position in Invesco Dividend Achievers ETF by 0.6% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 118,692 shares of the company’s stock worth $5,525,000 after acquiring an additional 753 shares during the last quarter. CreativeOne Wealth LLC boosted its holdings in Invesco Dividend Achievers ETF by 2.3% during the third quarter. CreativeOne Wealth LLC now owns 59,447 shares of the company’s stock valued at $2,767,000 after acquiring an additional 1,361 shares during the period. Finally, MML Investors Services LLC grew its position in shares of 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 valued at $2,734,000 after purchasing an additional 1,054 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.