Invesco Dividend Achievers ETF (NASDAQ:PFM) Reaches New 1-Year Low – What’s Next?

Invesco Dividend Achievers ETF (NASDAQ:PFM)’s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $40.01 and last traded at $40.11, with a volume of 16281 shares trading hands. The stock had previously closed at $41.90.

Invesco Dividend Achievers ETF Price Performance

The business’s fifty day moving average price is $46.71 and its 200 day moving average price is $46.72. The stock has a market cap of $615.67 million, a P/E ratio of 23.30 and a beta of 0.83.

Invesco Dividend Achievers ETF Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 24th were issued a dividend of $0.1793 per share. The ex-dividend date was Monday, March 24th.

Institutional Trading of Invesco Dividend Achievers ETF

Several institutional investors have recently modified their holdings of the business. Stifel Financial Corp grew its position in shares of Invesco Dividend Achievers ETF by 86.4% in the 3rd quarter. Stifel Financial Corp now owns 20,255 shares of the company’s stock valued at $943,000 after buying an additional 9,387 shares during the last quarter. Dorsey Wright & Associates bought a new stake in Invesco Dividend Achievers ETF during the third quarter valued at $2,329,000. MML Investors Services LLC grew its stake in Invesco Dividend Achievers ETF by 1.8% during the third quarter. MML Investors Services LLC now owns 58,741 shares of the company’s stock worth $2,734,000 after purchasing an additional 1,054 shares during the period. JPMorgan Chase & Co. grew its position in shares of Invesco Dividend Achievers ETF by 12.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 36,798 shares of the company’s stock worth $1,713,000 after buying an additional 4,036 shares during the period. Finally, ST Germain D J Co. Inc. bought a new position in Invesco Dividend Achievers ETF during the fourth quarter worth $55,000.

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.