Invesco Dividend Achievers ETF (NASDAQ:PFM) Sees Significant Drop in Short Interest

Invesco Dividend Achievers ETF (NASDAQ:PFM) was the recipient of a significant drop in short interest in July. As of July 15th, there was short interest totalling 12,600 shares, a drop of 17.6% from the June 30th total of 15,300 shares. Based on an average daily trading volume, of 23,700 shares, the short-interest ratio is currently 0.5 days.

Invesco Dividend Achievers ETF Stock Performance

Shares of NASDAQ:PFM traded up $0.53 during midday trading on Friday, hitting $44.20. The company’s stock had a trading volume of 17,608 shares, compared to its average volume of 26,736. The business’s 50 day simple moving average is $43.00 and its 200 day simple moving average is $41.89. The company has a market cap of $670.96 million, a P/E ratio of 22.62 and a beta of 0.83. Invesco Dividend Achievers ETF has a 12-month low of $35.18 and a 12-month high of $44.74.

Invesco Dividend Achievers ETF Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 24th were paid a $0.1922 dividend. This is an increase from Invesco Dividend Achievers ETF’s previous quarterly dividend of $0.18. This represents a $0.77 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend was Monday, June 24th.

Hedge Funds Weigh In On Invesco Dividend Achievers ETF

Several hedge funds and other institutional investors have recently modified their holdings of PFM. Key Financial Inc raised its stake in Invesco Dividend Achievers ETF by 77.6% during the fourth quarter. Key Financial Inc now owns 2,849 shares of the company’s stock worth $114,000 after purchasing an additional 1,245 shares during the period. Flaharty Asset Management LLC raised its stake in Invesco Dividend Achievers ETF by 0.5% during the fourth quarter. Flaharty Asset Management LLC now owns 752,530 shares of the company’s stock worth $30,018,000 after purchasing an additional 3,466 shares during the period. Raymond James & Associates raised its stake in Invesco Dividend Achievers ETF by 3.6% during the fourth quarter. Raymond James & Associates now owns 238,698 shares of the company’s stock worth $9,522,000 after purchasing an additional 8,197 shares during the period. Stratos Wealth Partners LTD. raised its stake in Invesco Dividend Achievers ETF by 97.6% during the fourth quarter. Stratos Wealth Partners LTD. now owns 16,202 shares of the company’s stock worth $646,000 after purchasing an additional 8,002 shares during the period. Finally, SteelPeak Wealth LLC purchased a new position in Invesco Dividend Achievers ETF during the fourth quarter worth about $1,177,000.

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.