Invesco BuyBack Achievers ETF (NASDAQ:PKW) Reaches New 12-Month High – Still a Buy?

Invesco BuyBack Achievers ETF (NASDAQ:PKW) hit a new 52-week high on Wednesday . The stock traded as high as $119.27 and last traded at $119.07, with a volume of 2991 shares trading hands. The stock had previously closed at $115.64.

Invesco BuyBack Achievers ETF Trading Up 0.7 %

The firm has a market cap of $1.28 billion, a P/E ratio of 12.93 and a beta of 1.09. The company’s 50-day moving average is $113.98 and its two-hundred day moving average is $108.29.

Invesco BuyBack Achievers ETF Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 23rd were given a $0.23 dividend. This is a boost from Invesco BuyBack Achievers ETF’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $0.92 annualized dividend and a yield of 0.76%.

Institutional Investors Weigh In On Invesco BuyBack Achievers ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in PKW. Pacific Wealth Strategies Group Inc. increased its stake in shares of Invesco BuyBack Achievers ETF by 8.6% during the 3rd quarter. Pacific Wealth Strategies Group Inc. now owns 114,159 shares of the exchange traded fund’s stock worth $13,073,000 after purchasing an additional 9,046 shares during the last quarter. Legacy Capital Wealth Partners LLC increased its stake in shares of Invesco BuyBack Achievers ETF by 27.4% during the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 100,315 shares of the exchange traded fund’s stock worth $10,957,000 after purchasing an additional 21,547 shares during the last quarter. Raymond James & Associates increased its stake in shares of Invesco BuyBack Achievers ETF by 37.6% during the 2nd quarter. Raymond James & Associates now owns 78,539 shares of the exchange traded fund’s stock worth $8,160,000 after purchasing an additional 21,481 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Invesco BuyBack Achievers ETF during the 1st quarter worth approximately $7,785,000. Finally, Koshinski Asset Management Inc. increased its stake in shares of Invesco BuyBack Achievers ETF by 10.4% during the 3rd quarter. Koshinski Asset Management Inc. now owns 59,934 shares of the exchange traded fund’s stock worth $6,864,000 after purchasing an additional 5,646 shares during the last quarter.

About Invesco BuyBack Achievers ETF

PowerShares Buyback Achievers Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Share BuyBack Achievers Index (the Index). The Index is designed to track the performance of companies that meet the requirements to be classified as BuyBack Achievers. To become eligible for inclusion in the Index, a company must be incorporated in the United States, trade on a United States exchange and must have repurchased at least 5% or more of its outstanding shares for the trailing 12 months.