Invesco Water Resources ETF (NASDAQ:PHO) Sees Strong Trading Volume Following Dividend Announcement

Invesco Water Resources ETF (NASDAQ:PHO) saw strong trading volume on Tuesday following a dividend announcement from the company. 165,443 shares traded hands during trading, an increase of 136% from the previous session’s volume of 70,159 shares.The stock last traded at $65.38 and had previously closed at $65.17.

The newly announced dividend which will be paid on Friday, March 28th. Investors of record on Monday, March 24th will be issued a dividend of $0.098 per share. This is a boost from Invesco Water Resources ETF’s previous dividend of $0.09. The ex-dividend date is Monday, March 24th.

Invesco Water Resources ETF Stock Performance

The firm’s 50-day simple moving average is $66.88 and its 200 day simple moving average is $68.33. The stock has a market capitalization of $2.10 billion, a P/E ratio of 25.82 and a beta of 0.96.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in shares of Invesco Water Resources ETF during the 4th quarter worth approximately $34,604,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Invesco Water Resources ETF in the fourth quarter valued at $7,366,000. LPL Financial LLC raised its position in shares of Invesco Water Resources ETF by 10.2% in the fourth quarter. LPL Financial LLC now owns 750,169 shares of the company’s stock valued at $49,354,000 after purchasing an additional 69,546 shares during the period. Bank of America Corp DE raised its position in shares of Invesco Water Resources ETF by 3.6% in the fourth quarter. Bank of America Corp DE now owns 1,686,274 shares of the company’s stock valued at $110,940,000 after purchasing an additional 58,316 shares during the period. Finally, IFP Advisors Inc lifted its stake in shares of Invesco Water Resources ETF by 945.0% during the 4th quarter. IFP Advisors Inc now owns 35,447 shares of the company’s stock worth $2,332,000 after buying an additional 32,055 shares during 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.