Invesco Water Resources ETF (NASDAQ:PHO) Sets New 12-Month Low – Here’s Why

Shares of Invesco Water Resources ETF (NASDAQ:PHO) reached a new 52-week low on Wednesday . The stock traded as low as $65.37 and last traded at $65.43, with a volume of 29107 shares traded. The stock had previously closed at $66.40.

Invesco Water Resources ETF Trading Down 1.3%

The stock has a market cap of $1.99 billion, a P/E ratio of 25.38 and a beta of 1.00. The firm has a 50-day simple moving average of $68.43 and a two-hundred day simple moving average of $70.92.

Invesco Water Resources ETF Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 23rd were given a $0.1046 dividend. The ex-dividend date was Monday, March 23rd. This is an increase from Invesco Water Resources ETF’s previous quarterly dividend of $0.08. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.6%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC grew its position in Invesco Water Resources ETF by 5.3% in the first quarter. NewEdge Advisors LLC now owns 16,980 shares of the company’s stock valued at $1,096,000 after acquiring an additional 853 shares during the last quarter. Baird Financial Group Inc. grew its position in Invesco Water Resources ETF by 8.8% in the second quarter. Baird Financial Group Inc. now owns 13,692 shares of the company’s stock valued at $957,000 after acquiring an additional 1,110 shares during the last quarter. Brown Advisory Inc. grew its position in Invesco Water Resources ETF by 4.0% in the second quarter. Brown Advisory Inc. now owns 10,776 shares of the company’s stock valued at $753,000 after acquiring an additional 413 shares during the last quarter. Cerity Partners LLC grew its position in Invesco Water Resources ETF by 2.2% in the second quarter. Cerity Partners LLC now owns 59,490 shares of the company’s stock valued at $4,160,000 after acquiring an additional 1,274 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in Invesco Water Resources ETF in the second quarter valued at about $595,000.

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.