Invesco BuyBack Achievers ETF (NASDAQ:PKW) Sees Large Volume Increase Following Dividend Announcement

Invesco BuyBack Achievers ETF (NASDAQ:PKW) saw unusually-strong trading volume on Tuesday following a dividend announcement from the company. Approximately 35,636 shares were traded during mid-day trading, an increase of 90% from the previous session’s volume of 18,792 shares.The stock last traded at $115.52 and had previously closed at $115.38.

The newly announced dividend which will be paid on Friday, March 28th. Shareholders of record on Monday, March 24th will be paid a $0.3078 dividend. The ex-dividend date of this dividend is Monday, March 24th. This is an increase from Invesco BuyBack Achievers ETF’s previous dividend of $0.22.

Invesco BuyBack Achievers ETF Stock Up 0.1 %

The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 14.74 and a beta of 1.09. The company’s 50-day simple moving average is $116.98 and its 200 day simple moving average is $116.90.

Institutional Investors Weigh In On Invesco BuyBack Achievers ETF

Several hedge funds have recently modified their holdings of the business. Bank of America Corp DE lifted its position in shares of Invesco BuyBack Achievers ETF by 17.5% in the 4th quarter. Bank of America Corp DE now owns 702,068 shares of the exchange traded fund’s stock worth $80,829,000 after acquiring an additional 104,645 shares during the period. LPL Financial LLC lifted its holdings in Invesco BuyBack Achievers ETF by 2.2% during the 4th quarter. LPL Financial LLC now owns 379,624 shares of the exchange traded fund’s stock valued at $43,706,000 after purchasing an additional 8,276 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Invesco BuyBack Achievers ETF in the fourth quarter valued at approximately $28,804,000. Wells Fargo & Company MN boosted its stake in Invesco BuyBack Achievers ETF by 2.1% in the fourth quarter. Wells Fargo & Company MN now owns 170,081 shares of the exchange traded fund’s stock worth $19,581,000 after purchasing an additional 3,569 shares in the last quarter. Finally, Truist Financial Corp lifted its position in Invesco BuyBack Achievers ETF by 33.0% during the 4th quarter. Truist Financial Corp now owns 102,398 shares of the exchange traded fund’s stock worth $11,789,000 after buying an additional 25,389 shares in the last quarter.

About Invesco BuyBack Achievers ETF

PowerShares Buyback Achievers Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Share BuyBack Achievers Index (the Index). The Index is designed to track the performance of companies that meet the requirements to be classified as BuyBack Achievers. To become eligible for inclusion in the Index, a company must be incorporated in the United States, trade on a United States exchange and must have repurchased at least 5% or more of its outstanding shares for the trailing 12 months.