Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY) Sets New 52-Week High – Still a Buy?

Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $22.87 and last traded at $22.75, with a volume of 83138 shares trading hands. The stock had previously closed at $22.65.

Invesco High Yield Equity Dividend Achievers ETF Stock Performance

The company has a market cap of $1.08 billion, a PE ratio of 13.11 and a beta of 0.66. The firm’s 50 day moving average is $21.96 and its 200-day moving average is $21.39.

Invesco High Yield Equity Dividend Achievers ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 18th were issued a $0.0906 dividend. This represents a c) annualized dividend and a yield of 4.8%. The ex-dividend date was Monday, May 18th. This is a positive change from Invesco High Yield Equity Dividend Achievers ETF’s previous monthly dividend of $0.08.

Hedge Funds Weigh In On Invesco High Yield Equity Dividend Achievers ETF

Institutional investors and hedge funds have recently bought and sold shares of the company. Cardiff Park Advisors LLC acquired a new position in Invesco High Yield Equity Dividend Achievers ETF in the 1st quarter valued at about $27,000. Spire Wealth Management boosted its holdings in Invesco High Yield Equity Dividend Achievers ETF by 700.0% in the 4th quarter. Spire Wealth Management now owns 1,720 shares of the company’s stock valued at $35,000 after purchasing an additional 1,505 shares during the last quarter. JPL Wealth Management LLC acquired a new position in Invesco High Yield Equity Dividend Achievers ETF in the 3rd quarter valued at about $75,000. Palisade Asset Management LLC acquired a new position in Invesco High Yield Equity Dividend Achievers ETF in the 3rd quarter valued at about $82,000. Finally, Glenmede Trust Co. NA acquired a new position in Invesco High Yield Equity Dividend Achievers ETF in the 1st quarter valued at about $86,000.

About Invesco High Yield Equity Dividend Achievers ETF

PowerShares High Yield Equity Dividend Achiever Portfolio (the Fund) is based on the Mergent Dividend Achiever 50 Index (the Index). The Fund focuses to invest at least 90% of its total assets in dividend paying common stocks, which comprise the Index. The Index is comprised of 50 stocks selected principally on the basis of dividend yield and consistent growth in dividends. The Funds sector allocation includes consumers discretionary, consumer staples, energy, financials, healthcare, industrials, information technology, materials and telecommunication services.