Redditors are Buying These 5 Dividend ETFs in August

2. Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY)

The Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY) tracks the performance of dividend stocks that have strong dividend yields and hold strong records of consistent dividend growth. The fund regularly invests 90% of its total assets into dividend-paying stocks that comprise the index. Since the start of 2022, the fund has delivered a 1.35% return to shareholders, while it’s returned 4.5% in the last 12 months, as of the close of August 10.

The Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY) has 52 holdings in its portfolio with an average market cap of $48.3 million. A Virginia-based tobacco company, Altria Group, Inc. (NYSE:MO) is one of the fund’s most prominent holdings, constituting 2.90% of its portfolio. The company pays a quarterly dividend of $0.90 per share, with a dividend yield of 7.96%, as of August 11. It has been raising its dividends consistently for the past 52 years.

Altria Group, Inc. (NYSE:MO) was popular among elite funds in Q1 2022, as 47 hedge funds tracked by Insider Monkey’s database owned stakes in the company, up from 39 in the previous quarter. The collective value of those stakes was nearly $2 billion.