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

Shares of Invesco Dividend Achievers ETF (NASDAQ:PFM) saw an uptick in trading volume on Friday . 87,639 shares traded hands during trading, an increase of 228% from the previous session’s volume of 26,689 shares.The stock last traded at $48.28 and had previously closed at $48.01.

Invesco Dividend Achievers ETF Stock Up 0.4 %

The stock has a market cap of $736.50 million, a PE ratio of 22.62 and a beta of 0.83. The business’s 50-day simple moving average is $46.76 and its 200-day simple moving average is $44.80.

Invesco Dividend Achievers ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 23rd were given a dividend of $0.173 per share. This represents a $0.69 annualized dividend and a yield of 1.44%. The ex-dividend date was Monday, September 23rd.

Institutional Investors Weigh In On Invesco Dividend Achievers ETF

A number of institutional investors have recently modified their holdings of PFM. Cetera Investment Advisers purchased a new stake in shares of Invesco Dividend Achievers ETF in the 1st quarter worth $2,013,000. Cetera Advisors LLC boosted its holdings in Invesco Dividend Achievers ETF by 29.9% during the 1st quarter. Cetera Advisors LLC now owns 9,137 shares of the company’s stock valued at $389,000 after acquiring an additional 2,104 shares during the period. Atlas Private Wealth Advisors lifted its holdings in Invesco Dividend Achievers ETF by 52.8% during the 2nd quarter. Atlas Private Wealth Advisors now owns 139,730 shares of the company’s stock valued at $5,962,000 after buying an additional 48,270 shares in the last quarter. Raymond James & Associates boosted its holdings in shares of Invesco Dividend Achievers ETF by 59.6% in the second quarter. Raymond James & Associates now owns 370,307 shares of the company’s stock valued at $15,801,000 after purchasing an additional 138,313 shares during the period. Finally, Raymond James Financial Services Advisors Inc. increased its stake in shares of Invesco Dividend Achievers ETF by 4.8% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 449,214 shares of the company’s stock valued at $19,168,000 after buying an additional 20,696 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.