Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY) Reaches New 52-Week High – Should You Buy?

Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY) hit a new 52-week high on Tuesday . The stock traded as high as $22.14 and last traded at $22.14, with a volume of 30567 shares changing hands. The stock had previously closed at $21.90.

Invesco High Yield Equity Dividend Achievers ETF Trading Up 1.7 %

The firm has a fifty day moving average of $21.44 and a two-hundred day moving average of $20.60. The company has a market cap of $1.27 billion, a PE ratio of 14.21 and a beta of 0.87.

Invesco High Yield Equity Dividend Achievers ETF Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 23rd were paid a dividend of $0.074 per share. This represents a $0.89 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date was Monday, September 23rd.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PEY. Dynamic Advisor Solutions LLC boosted its stake in Invesco High Yield Equity Dividend Achievers ETF by 0.7% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 250,524 shares of the company’s stock worth $5,494,000 after purchasing an additional 1,767 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Invesco High Yield Equity Dividend Achievers ETF in the second quarter valued at approximately $3,451,000. Brick & Kyle Associates boosted its position in shares of Invesco High Yield Equity Dividend Achievers ETF by 1.1% in the second quarter. Brick & Kyle Associates now owns 98,778 shares of the company’s stock valued at $1,940,000 after acquiring an additional 1,107 shares during the period. Wealth Alliance grew its stake in Invesco High Yield Equity Dividend Achievers ETF by 10.7% during the second quarter. Wealth Alliance now owns 53,970 shares of the company’s stock valued at $1,060,000 after acquiring an additional 5,200 shares in the last quarter. Finally, Axxcess Wealth Management LLC increased its holdings in Invesco High Yield Equity Dividend Achievers ETF by 182.2% during the 2nd quarter. Axxcess Wealth Management LLC now owns 147,955 shares of the company’s stock worth $2,906,000 after acquiring an additional 95,521 shares during the period.

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.