Invesco Water Resources ETF (NASDAQ:PHO) Sets New 1-Year Low – Here’s Why

Shares of Invesco Water Resources ETF (NASDAQ:PHO) reached a new 52-week low during trading on Tuesday . The company traded as low as $64.07 and last traded at $64.35, with a volume of 13893 shares traded. The stock had previously closed at $64.88.

Invesco Water Resources ETF Price Performance

The stock has a market capitalization of $1.96 billion, a P/E ratio of 25.38 and a beta of 1.00. The stock’s 50-day simple moving average is $67.88 and its 200 day simple moving average is $70.67.

Invesco Water Resources ETF Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Monday, March 23rd were issued a dividend of $0.1046 per share. This is a boost 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%. The ex-dividend date was Monday, March 23rd.

Institutional Investors Weigh In On Invesco Water Resources ETF

A number of institutional investors have recently modified their holdings of PHO. Perigon Wealth Management LLC bought a new stake in shares of Invesco Water Resources ETF in the fourth quarter valued at about $27,057,000. Corient Private Wealth LLC boosted its position in shares of Invesco Water Resources ETF by 1,232.1% in the fourth quarter. Corient Private Wealth LLC now owns 248,991 shares of the company’s stock valued at $17,531,000 after acquiring an additional 230,299 shares during the period. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co bought a new stake in shares of Invesco Water Resources ETF in the fourth quarter valued at about $13,963,000. Hamilton Wealth LLC boosted its position in shares of Invesco Water Resources ETF by 110.0% in the first quarter. Hamilton Wealth LLC now owns 247,036 shares of the company’s stock valued at $16,517,000 after acquiring an additional 129,405 shares during the period. Finally, Thryve Wealth Management LLC bought a new stake in shares of Invesco Water Resources ETF in the fourth quarter valued at approximately $6,812,000.

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.