Invesco CurrencyShares Australian Dollar Trust (NYSEARCA:FXA) Stock Cross Above 200-Day Moving Average – Here’s Why

Invesco CurrencyShares Australian Dollar Trust (NYSEARCA:FXA)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $68.57 and traded as high as $70.75. Invesco CurrencyShares Australian Dollar Trust shares last traded at $70.57, with a volume of 3,386 shares.

Invesco CurrencyShares Australian Dollar Trust Stock Down 1.2%

The company’s fifty day moving average is $70.46 and its 200-day moving average is $68.62.

Invesco CurrencyShares Australian Dollar Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, June 5th. Investors of record on Monday, June 1st will be issued a $0.0914 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a c) annualized dividend and a yield of 1.6%. This is a positive change from Invesco CurrencyShares Australian Dollar Trust’s previous monthly dividend of $0.08.

Institutional Investors Weigh In On Invesco CurrencyShares Australian Dollar Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its position in shares of Invesco CurrencyShares Australian Dollar Trust by 746.8% during the first quarter. Bank of America Corp DE now owns 6,859 shares of the exchange traded fund’s stock worth $469,000 after purchasing an additional 6,049 shares in the last quarter. Graney & King LLC purchased a new stake in shares of Invesco CurrencyShares Australian Dollar Trust during the first quarter worth about $125,000. Royal Bank of Canada grew its position in shares of Invesco CurrencyShares Australian Dollar Trust by 1.6% during the first quarter. Royal Bank of Canada now owns 9,253 shares of the exchange traded fund’s stock worth $633,000 after purchasing an additional 147 shares in the last quarter. PFG Investments LLC purchased a new stake in shares of Invesco CurrencyShares Australian Dollar Trust during the first quarter worth about $515,000. Finally, Rockefeller Capital Management L.P. purchased a new stake in shares of Invesco CurrencyShares Australian Dollar Trust during the fourth quarter worth about $359,000.

About Invesco CurrencyShares Australian Dollar Trust

Guggenheim CurrencyShares Australian Dollar Trust, formerly The CurrencyShares Australian Dollar Trust, is a grantor trust. The Trust issues shares (the Shares) in blocks of 50,000 (a Basket) in exchange for deposits of Australian Dollars and distributes Australian Dollars in connection with the redemption of Baskets. The investment objective of the Trust is for the Shares to reflect the price of Australian Dollars plus accrued interest, if any, less the expenses of the Trust’s operations. The Shares are intended to offer investors an opportunity to participate in the market for the Australian Dollar through an investment in securities.