PNC Financial Services Group Inc. Lowers Stake in Invesco High Yield Equity Dividend Achievers ETF

PNC Financial Services Group Inc. has reduced its investment in the Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY) by 7.4% during the fourth quarter, as indicated by its recent Form 13F submission to the Securities and Exchange Commission. After selling 1,058 shares, PNC now holds 13,149 shares of this ETF, which were valued at approximately $280,000 at the time of the latest filing.

In addition to PNC, several other institutional investors have also made changes to their holdings in the Invesco ETF. For instance, ST Germain D J Co. Inc. initiated a new position in the fund during the fourth quarter, valued at around $32,000. Similarly, Wagner Wealth Management LLC also acquired a new stake valued at about $39,000.

US Bancorp DE significantly increased its position in the ETF by 244.9% during this period, now holding 2,014 shares worth $43,000 after purchasing an additional 1,430 shares. Synergy Investment Management LLC also added a new position with an investment of approximately $68,000 in the same quarter. Additionally, Cullen Frost Bankers Inc. expanded its holdings by 418.8%, acquiring an extra 3,857 shares to reach a total of 4,778 shares, which are now valued at $102,000.

Performance of Invesco High Yield Equity Dividend Achievers ETF

The current price for PEY stands at $21.42. The ETF has recorded a 50-day moving average of $21.70 and a 200-day moving average of $21.77. Over the past year, shares have fluctuated, with a low of $19.22 and a high of $23.22. At present, Invesco High Yield Equity Dividend Achievers ETF has a market capitalization of $1.20 billion, a price-to-earnings (PE) ratio of 15.66, and a beta value of 0.87, indicating its volatility compared to the market.

Recent Dividend Announcement

The company announced a dividend payment, which was issued to shareholders on February 28. Investors who were on record as of February 24 received a dividend of $0.0701 per share. The ex-dividend date for this payment also fell on February 24.

Company Overview of Invesco High Yield Equity Dividend Achievers ETF

The PowerShares High Yield Equity Dividend Achiever Portfolio, which this ETF is based on, follows the Mergent Dividend Achiever 50 Index. This fund aims to invest at least 90% of its total assets in common stocks that pay dividends and are part of the mentioned index. The index comprises 50 stocks selected primarily for their dividend yield and consistent dividend growth.

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For those interested in following hedge fund activity with PEY, you can view recent 13F filings and insider trades related to the Invesco High Yield Equity Dividend Achievers ETF online.

PNC, ETF, dividend