Invesco Water Resources ETF (NASDAQ:PHO) Hits New 1-Year High – What’s Next?

Invesco Water Resources ETF (NASDAQ:PHO) shares reached a new 52-week high during mid-day trading on Monday. The company traded as high as $75.58 and last traded at $75.8670, with a volume of 6,813 shares traded. The stock had previously closed at $73.76.

Invesco Water Resources ETF Trading Down 0.1%

The firm has a market cap of $2.12 billion, a P/E ratio of 25.38 and a beta of 0.95. The business has a 50-day moving average price of $70.08 and a 200-day moving average price of $69.60.

Institutional Trading of Invesco Water Resources ETF

A number of hedge funds have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC raised its position in shares of Invesco Water Resources ETF by 108.8% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 28,261 shares of the company’s stock worth $1,952,000 after acquiring an additional 14,723 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of Invesco Water Resources ETF by 13.3% during the 1st quarter. Royal Bank of Canada now owns 335,431 shares of the company’s stock worth $22,428,000 after purchasing an additional 39,491 shares during the last quarter. D.A. Davidson & CO. lifted its stake in shares of Invesco Water Resources ETF by 62.7% during the 1st quarter. D.A. Davidson & CO. now owns 70,106 shares of the company’s stock worth $4,687,000 after purchasing an additional 27,010 shares during the last quarter. Nwam LLC lifted its stake in shares of Invesco Water Resources ETF by 756.7% during the 2nd quarter. Nwam LLC now owns 33,636 shares of the company’s stock worth $2,324,000 after purchasing an additional 29,710 shares during the last quarter. Finally, Hamilton Wealth LLC boosted its position in Invesco Water Resources ETF by 110.0% during the first quarter. Hamilton Wealth LLC now owns 247,036 shares of the company’s stock valued at $16,517,000 after purchasing an additional 129,405 shares in the last quarter.

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.