Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY) Shares Pass Below 50-Day Moving Average – Here’s What Happened

Shares of Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY) passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $21.52 and traded as low as $21.14. Invesco High Yield Equity Dividend Achievers ETF shares last traded at $21.24, with a volume of 1,034,361 shares trading hands.

Invesco High Yield Equity Dividend Achievers ETF Stock Up 0.9%

The stock’s 50-day moving average price is $21.52 and its 200 day moving average price is $21.01. The company has a market cap of $1.04 billion, a P/E ratio of 13.11 and a beta of 0.74.

Invesco High Yield Equity Dividend Achievers ETF Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 23rd were paid a $0.0711 dividend. The ex-dividend date was Monday, March 23rd. This represents a c) dividend on an annualized basis and a yield of 4.0%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PEY. Global Retirement Partners LLC bought a new stake in Invesco High Yield Equity Dividend Achievers ETF during the second quarter valued at about $241,000. First Trust Advisors LP acquired a new stake in shares of Invesco High Yield Equity Dividend Achievers ETF in the second quarter valued at about $260,000. Hurley Capital LLC bought a new position in shares of Invesco High Yield Equity Dividend Achievers ETF in the second quarter worth about $41,000. Raymond James Financial Inc. increased its stake in shares of Invesco High Yield Equity Dividend Achievers ETF by 1.5% in the second quarter. Raymond James Financial Inc. now owns 651,911 shares of the company’s stock worth $13,306,000 after purchasing an additional 9,533 shares during the period. Finally, EP Wealth Advisors LLC lifted its position in shares of Invesco High Yield Equity Dividend Achievers ETF by 32.7% during the 2nd quarter. EP Wealth Advisors LLC now owns 6,896 shares of the company’s stock worth $141,000 after purchasing an additional 1,700 shares during the last quarter.

Invesco High Yield Equity Dividend Achievers ETF Company Profile

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.