Invesco Water Resources ETF (NASDAQ:PHO) Reaches New 1-Year High – Here’s What Happened

Invesco Water Resources ETF (NASDAQ:PHO) shares hit a new 52-week high during mid-day trading on Monday. The company traded as high as $77.74 and last traded at $77.6390, with a volume of 46,675 shares trading hands. The stock had previously closed at $75.01.

Invesco Water Resources ETF Price Performance

The company’s 50 day moving average is $70.54 and its 200 day moving average is $69.67. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 27.98 and a beta of 0.93.

Institutional Investors Weigh In On Invesco Water Resources ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada grew its holdings in shares of Invesco Water Resources ETF by 13.3% in the 1st quarter. Royal Bank of Canada now owns 335,431 shares of the company’s stock worth $22,428,000 after acquiring an additional 39,491 shares during the period. PNC Financial Services Group Inc. raised its holdings in Invesco Water Resources ETF by 1.6% during the first quarter. PNC Financial Services Group Inc. now owns 295,258 shares of the company’s stock worth $19,741,000 after purchasing an additional 4,675 shares during the last quarter. Hamilton Wealth LLC raised its holdings in Invesco Water Resources ETF by 110.0% during the first quarter. Hamilton Wealth LLC now owns 247,036 shares of the company’s stock worth $16,517,000 after purchasing an additional 129,405 shares during the last quarter. Commonwealth Equity Services LLC acquired a new position in Invesco Water Resources ETF during the third quarter worth $9,405,000. Finally, International Assets Investment Management LLC raised its holdings in Invesco Water Resources ETF by 1,135.2% during the third quarter. International Assets Investment Management LLC now owns 95,000 shares of the company’s stock worth $6,444,000 after purchasing an additional 87,309 shares during the last quarter.

About Invesco Water Resources ETF

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.