Invesco Dividend Achievers ETF (NASDAQ:PFM) Hits New 1-Year Low – Here’s Why

Invesco Dividend Achievers ETF (NASDAQ:PFM) shares reached a new 52-week low on Monday . The stock traded as low as $40.01 and last traded at $40.11, with a volume of 16281 shares. The stock had previously closed at $41.90.

Invesco Dividend Achievers ETF Stock Down 1.2 %

The business’s 50-day moving average is $46.35 and its two-hundred day moving average is $46.61. The company has a market capitalization of $616.57 million, a P/E ratio of 23.30 and a beta of 0.83.

Invesco Dividend Achievers ETF Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 24th were paid a $0.1793 dividend. The ex-dividend date of this dividend was Monday, March 24th.

Institutional Trading of Invesco Dividend Achievers ETF

A number of hedge funds have recently modified their holdings of PFM. Nestegg Advisors Inc. bought a new position in Invesco Dividend Achievers ETF in the fourth quarter worth approximately $2,415,000. Wealth Enhancement Advisory Services LLC increased its position in Invesco Dividend Achievers ETF by 13.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 10,600 shares of the company’s stock valued at $486,000 after purchasing an additional 1,291 shares during the period. Baird Financial Group Inc. lifted its position in shares of Invesco Dividend Achievers ETF by 5.5% during the fourth quarter. Baird Financial Group Inc. now owns 79,366 shares of the company’s stock valued at $3,640,000 after buying an additional 4,109 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in shares of Invesco Dividend Achievers ETF during the fourth quarter valued at about $1,247,000. Finally, IHT Wealth Management LLC purchased a new stake in Invesco Dividend Achievers ETF in the fourth quarter valued at approximately $285,000.

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.