Invesco Water Resources ETF (NASDAQ:PHO) Hits New 52-Week High – Here’s What Happened

Shares of Invesco Water Resources ETF (NASDAQ:PHO) reached a new 52-week high on Monday. The company traded as high as $75.58 and last traded at $75.8670, with a volume of 6,813 shares traded. The stock had previously closed at $73.76.

Invesco Water Resources ETF Stock Up 3.2%

The firm has a market capitalization of $2.12 billion, a P/E ratio of 25.38 and a beta of 0.95. The company has a fifty day simple moving average of $69.93 and a 200 day simple moving average of $69.57.

Hedge Funds Weigh In On Invesco Water Resources ETF

A number of hedge funds have recently modified their holdings of PHO. Verity Asset Management Inc. boosted its stake in Invesco Water Resources ETF by 0.8% during the third quarter. Verity Asset Management Inc. now owns 33,390 shares of the company’s stock valued at $2,265,000 after buying an additional 264 shares during the last quarter. Next Level Wealth Planning LLC purchased a new stake in shares of Invesco Water Resources ETF during the 3rd quarter worth approximately $39,000. International Assets Investment Management LLC boosted its position in shares of Invesco Water Resources ETF by 1,135.2% during the 3rd quarter. International Assets Investment Management LLC now owns 95,000 shares of the company’s stock valued at $6,444,000 after acquiring an additional 87,309 shares during the last quarter. John Boyer Inc. purchased a new position in shares of Invesco Water Resources ETF in the third quarter valued at $63,000. Finally, Apollon Wealth Management LLC grew its holdings in shares of Invesco Water Resources ETF by 18.6% in the third quarter. Apollon Wealth Management LLC now owns 14,626 shares of the company’s stock valued at $992,000 after purchasing an additional 2,293 shares in the last quarter.

Invesco Water Resources ETF Company Profile

PowerShares Water Resources Portfolio (the Fund) seeks investment results that generally correspond to the price yield of the NASDAQ OMX US Water Index (the Underlying Index). The Fund generally will invest at least 90% of its total assets in common stocks that comprise the Underlying Index. The Underlying Index seeks to track the performance of the United States exchange-listed companies that create products designed to conserve and purify water for homes, businesses and industries. The Fund invests in the sector such, such as industrials, utilities, healthcare, information technology and materials.