Invesco Water Resources ETF (NASDAQ:PHO) Shares Cross Below 50 Day Moving Average – Here’s What Happened

Invesco Water Resources ETF (NASDAQ:PHO) crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $69.70 and traded as low as $68.95. Invesco Water Resources ETF shares last traded at $69.50, with a volume of 58,229 shares traded.

Invesco Water Resources ETF Trading Up 0.8%

The firm has a market cap of $2.06 billion, a P/E ratio of 25.38 and a beta of 1.06. The company’s 50 day simple moving average is $69.70 and its 200-day simple moving average is $71.41.

Invesco Water Resources ETF Increases Dividend

The business 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. The ex-dividend date of this dividend was Monday, March 23rd. This is a positive change from Invesco Water Resources ETF’s previous quarterly dividend of $0.08. This represents a $0.42 annualized dividend and a dividend yield of 0.6%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Perigon Wealth Management LLC purchased a new stake in Invesco Water Resources ETF in the fourth quarter worth approximately $27,057,000. Corient Private Wealth LLC raised its stake in Invesco Water Resources ETF by 1,232.1% during the 4th quarter. Corient Private Wealth LLC now owns 248,991 shares of the company’s stock valued at $17,531,000 after buying an additional 230,299 shares during the last quarter. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co bought a new position in shares of Invesco Water Resources ETF during the 4th quarter valued at $13,963,000. Thryve Wealth Management LLC bought a new position in shares of Invesco Water Resources ETF during the 4th quarter valued at $6,812,000. Finally, WealthSpring Partners LLC bought a new position in shares of Invesco Water Resources ETF during the 4th quarter valued at $6,741,000.

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.