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International Dividend ETF (PID) Hits New 52-Week High

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Investors seeking momentum may have Invesco International Dividend Achievers ETF (PID - Free Report)  on radar now. The fund recently hit a new 52-week high. Shares of PID are up approximately 58% from their 52-week low of $11.34/share.

But could there be more gains ahead for this ETF? Let’s take a look at the fund and the near-term outlook to get a better idea of where it might be headed.

PID in Focus

The underlying NASDAQ International Dividend Achievers Index identifies an international group of ADR, GDR and non-US ordinary stocks that have qualified as International Dividend Achievers. These companies have increased their aggregate annual regular cash dividend payments consistently for at least each of the last five consecutive years. The expense ratio is 0.53% (see all World ETFs here).

Why the move?

The fund offers quality exposure to companies with a decent history of increasing dividend payments year over year. Moreover, the fund yields 2.82% annually. Such yield appears great in the current low-rate environment. Both factors have pushed the fund to this height.

More Gains Ahead?

The fund has a positive weighted alpha of 51.45. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.

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