Invesco Dividend Achievers ETF (NASDAQ:PFM) Sees Strong Trading Volume – Here’s Why

Invesco Dividend Achievers ETF (NASDAQ:PFM) shares saw unusually-strong trading volume on Friday . Approximately 106,602 shares traded hands during mid-day trading, an increase of 276% from the previous session’s volume of 28,362 shares.The stock last traded at $51.6790 and had previously closed at $51.43.

Invesco Dividend Achievers ETF Stock Performance

The stock has a market capitalization of $743.30 million, a P/E ratio of 23.20 and a beta of 0.82. The business has a fifty day simple moving average of $51.17 and a 200-day simple moving average of $49.82.

Institutional Investors Weigh In On Invesco Dividend Achievers ETF

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Allworth Financial LP boosted its position in shares of Invesco Dividend Achievers ETF by 22.2% during the 3rd quarter. Allworth Financial LP now owns 3,184 shares of the company’s stock worth $162,000 after purchasing an additional 579 shares in the last quarter. Briaud Financial Planning Inc raised its stake in Invesco Dividend Achievers ETF by 17.6% during the 3rd quarter. Briaud Financial Planning Inc now owns 4,574 shares of the company’s stock worth $232,000 after buying an additional 684 shares during the period. Susquehanna International Group LLP raised its stake in Invesco Dividend Achievers ETF by 65.9% during the 3rd quarter. Susquehanna International Group LLP now owns 9,048 shares of the company’s stock worth $459,000 after buying an additional 3,594 shares during the period. Lido Advisors LLC bought a new position in Invesco Dividend Achievers ETF in the third quarter worth approximately $852,000. Finally, Bank of America Corp DE grew its stake in Invesco Dividend Achievers ETF by 0.7% in the third quarter. Bank of America Corp DE now owns 275,362 shares of the company’s stock valued at $13,972,000 after acquiring an additional 1,809 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. The portfolio is rebalanced quarterly and reconstituted annually. The Fund will normally invest at least 90% of its total assets in dividend paying common stocks that comprise Index.