Invesco Water Resources ETF (NASDAQ:PHO) Hits New 12-Month High – Should You Buy?

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

Invesco Water Resources ETF Stock Performance

The stock has a market capitalization of $2.12 billion, a PE ratio of 25.38 and a beta of 0.95. The business has a 50 day moving average of $69.93 and a two-hundred day moving average of $69.57.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its position in shares of Invesco Water Resources ETF by 13.3% during the first quarter. Royal Bank of Canada now owns 335,431 shares of the company’s stock worth $22,428,000 after buying an additional 39,491 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Invesco Water Resources ETF by 1.6% in the first quarter. PNC Financial Services Group Inc. now owns 295,258 shares of the company’s stock valued at $19,741,000 after buying an additional 4,675 shares during the last quarter. Hamilton Wealth LLC increased its holdings in shares of Invesco Water Resources ETF by 110.0% in 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 during the period. International Assets Investment Management LLC lifted its stake in shares of Invesco Water Resources ETF by 1,135.2% in the 3rd quarter. International Assets Investment Management LLC now owns 95,000 shares of the company’s stock worth $6,444,000 after acquiring an additional 87,309 shares during the period. Finally, Kestra Advisory Services LLC increased its position in Invesco Water Resources ETF by 12.7% during the 1st quarter. Kestra Advisory Services LLC now owns 84,836 shares of the company’s stock worth $5,672,000 after purchasing an additional 9,566 shares during the period.

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.