Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY) Stock Passes Below 50-Day Moving Average – Here’s Why

Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY)’s share price crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $21.55 and traded as low as $18.58. Invesco High Yield Equity Dividend Achievers ETF shares last traded at $19.15, with a volume of 610,875 shares.

Invesco High Yield Equity Dividend Achievers ETF Stock Down 1.7 %

The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 14.15 and a beta of 0.87. The stock’s 50-day moving average price is $21.55 and its 200 day moving average price is $21.73.

Invesco High Yield Equity Dividend Achievers ETF Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 24th were issued a $0.07 dividend. The ex-dividend date was Monday, March 24th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Rialto Wealth Management LLC purchased a new stake in Invesco High Yield Equity Dividend Achievers ETF in the fourth quarter valued at $25,000. ST Germain D J Co. Inc. purchased a new position in Invesco High Yield Equity Dividend Achievers ETF in the fourth quarter valued at $32,000. Wagner Wealth Management LLC purchased a new position in shares of Invesco High Yield Equity Dividend Achievers ETF in the 4th quarter valued at about $39,000. US Bancorp DE lifted its stake in Invesco High Yield Equity Dividend Achievers ETF by 244.9% in the fourth quarter. US Bancorp DE now owns 2,014 shares of the company’s stock worth $43,000 after acquiring an additional 1,430 shares during the last quarter. Finally, Synergy Investment Management LLC acquired a new position in shares of Invesco High Yield Equity Dividend Achievers ETF during the fourth quarter worth $68,000.

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.