Invesco S&P Global Water Index ETF (NYSEARCA:CGW) Stock Crosses Below 50-Day Moving Average – Here’s Why

Invesco S&P Global Water Index ETF (NYSEARCA:CGW)’s stock price crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $64.04 and traded as low as $63.51. Invesco S&P Global Water Index ETF shares last traded at $63.66, with a volume of 36,363 shares traded.

Invesco S&P Global Water Index ETF Trading Down 0.2%

The firm has a 50 day moving average of $64.02 and a 200-day moving average of $63.41. The company has a market cap of $983.13 million, a P/E ratio of 21.45 and a beta of 1.00.

Hedge Funds Weigh In On Invesco S&P Global Water Index ETF

A number of hedge funds and other institutional investors have recently modified their holdings of CGW. RFG Advisory LLC bought a new stake in Invesco S&P Global Water Index ETF in the 2nd quarter worth approximately $248,000. CWM LLC boosted its position in shares of Invesco S&P Global Water Index ETF by 7.9% during the 2nd quarter. CWM LLC now owns 2,668 shares of the company’s stock valued at $167,000 after acquiring an additional 195 shares during the last quarter. Park Avenue Securities LLC purchased a new position in shares of Invesco S&P Global Water Index ETF in the second quarter valued at $296,000. Envestnet Asset Management Inc. increased its position in Invesco S&P Global Water Index ETF by 16.6% in the second quarter. Envestnet Asset Management Inc. now owns 39,999 shares of the company’s stock worth $2,500,000 after purchasing an additional 5,691 shares during the last quarter. Finally, Beta Wealth Group Inc. bought a new stake in Invesco S&P Global Water Index ETF in the second quarter worth $440,000.

About Invesco S&P Global Water Index ETF

Guggenheim S&P Global Water Index ETF (the Fund), formerly Claymore S&P Global Water Index ETF seeks investment results that correspond generally to the performance of an equity index called the S&P Global Water NR Index. The S&P Global Water NR Index consists of approximately 50 equity securities selected based on investment and other criteria, from a universe of companies listed on global developed market exchanges. The Index is designed to have a balanced representation from different segments of the water industry consisting of two clusters: 25 water utilities and infrastructure companies and 25 water equipment and materials companies based upon Standard & Poor’s Capital IQ industry classification.