Invesco Dividend Achievers ETF (NASDAQ:PFM) Sees Strong Trading Volume – Still a Buy?

Shares of Invesco Dividend Achievers ETF (NASDAQ:PFM) saw strong trading volume on Friday . 31,800 shares changed hands during trading, an increase of 11% from the previous session’s volume of 28,534 shares.The stock last traded at $46.70 and had previously closed at $47.04.

Invesco Dividend Achievers ETF Stock Performance

The stock has a market capitalization of $718.78 million, a P/E ratio of 24.76 and a beta of 0.83. The firm’s 50-day simple moving average is $47.00 and its 200 day simple moving average is $46.71.

Invesco Dividend Achievers ETF Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PFM. Atria Investments Inc acquired a new position in shares of Invesco Dividend Achievers ETF during the 3rd quarter worth about $268,000. Simmons Bank acquired a new position in Invesco Dividend Achievers ETF in the 3rd quarter valued at about $200,000. Retireful LLC acquired a new position in Invesco Dividend Achievers ETF in the 3rd quarter valued at about $461,000. Citizens Financial Group Inc. RI grew its stake in Invesco Dividend Achievers ETF by 0.6% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 118,692 shares of the company’s stock valued at $5,525,000 after buying an additional 753 shares during the last quarter. Finally, CreativeOne Wealth LLC grew its stake in Invesco Dividend Achievers ETF by 2.3% in the 3rd quarter. CreativeOne Wealth LLC now owns 59,447 shares of the company’s stock valued at $2,767,000 after buying an additional 1,361 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.