Invesco Water Resources ETF (NASDAQ:PHO) Reaches New 1-Year High – Should You Buy?

Invesco Water Resources ETF (NASDAQ:PHO)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $71.13 and last traded at $71.03, with a volume of 10619 shares. The stock had previously closed at $70.86.

Invesco Water Resources ETF Price Performance

The company has a 50-day moving average of $68.83 and a two-hundred day moving average of $67.10. The company has a market capitalization of $2.32 billion, a PE ratio of 37.18 and a beta of 0.96.

Invesco Water Resources ETF Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 23rd were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.28%.

Institutional Investors Weigh In On Invesco Water Resources ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Key Client Fiduciary Advisors LLC purchased a new stake in shares of Invesco Water Resources ETF in the first quarter worth $200,000. O ROURKE & COMPANY Inc raised its holdings in Invesco Water Resources ETF by 5.8% during the first quarter. O ROURKE & COMPANY Inc now owns 28,423 shares of the company’s stock valued at $1,892,000 after acquiring an additional 1,555 shares during the period. Woodmont Investment Counsel LLC purchased a new position in shares of Invesco Water Resources ETF in the first quarter valued at about $27,000. Kovack Advisors Inc. bought a new position in shares of Invesco Water Resources ETF in the first quarter worth about $218,000. Finally, American Institute for Advanced Investment Management LLP grew its position in shares of Invesco Water Resources ETF by 2.3% during the first quarter. American Institute for Advanced Investment Management LLP now owns 16,665 shares of the company’s stock worth $1,109,000 after purchasing an additional 370 shares in 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.