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

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

Invesco Water Resources ETF Stock Performance

The company has a market cap of $1.96 billion, a P/E ratio of 25.38 and a beta of 1.00. The company has a fifty day moving average price of $67.88 and a two-hundred day moving average price of $70.67.

Invesco Water Resources ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 23rd were issued a dividend of $0.1046 per share. The ex-dividend date 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 dividend on an annualized basis and a yield of 0.6%.

Hedge Funds Weigh In On Invesco Water Resources ETF

A number of institutional investors have recently added to or reduced their stakes in PHO. City Holding Co. acquired a new position in Invesco Water Resources ETF during the fourth quarter worth $28,000. Strengthening Families & Communities LLC bought a new position in Invesco Water Resources ETF during the fourth quarter worth about $30,000. Investment Counsel Co. of Nevada bought a new position in Invesco Water Resources ETF during the fourth quarter worth about $30,000. Geneos Wealth Management Inc. grew its holdings in Invesco Water Resources ETF by 156.5% during the second quarter. Geneos Wealth Management Inc. now owns 590 shares of the company’s stock worth $41,000 after purchasing an additional 360 shares during the period. Finally, Assetmark Inc. grew its holdings in Invesco Water Resources ETF by 45.4% during the third quarter. Assetmark Inc. now owns 589 shares of the company’s stock worth $42,000 after purchasing an additional 184 shares during the period.

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.