Invesco Water Resources ETF (NASDAQ:PHO) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Invesco Water Resources ETF (NASDAQ:PHO) saw unusually-high trading volume on Friday . Approximately 377,314 shares changed hands during mid-day trading, an increase of 438% from the previous session’s volume of 70,102 shares.The stock last traded at $66.64 and had previously closed at $67.24.

Invesco Water Resources ETF Stock Performance

The stock has a 50 day moving average price of $67.06 and a 200 day moving average price of $68.70. The company has a market cap of $2.13 billion, a P/E ratio of 26.66 and a beta of 1.00.

Invesco Water Resources ETF Dividend Announcement

The company also recently disclosed a dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 23rd were paid a $0.0923 dividend. The ex-dividend date was Monday, December 23rd.

Institutional Investors Weigh In On Invesco Water Resources ETF

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE raised its position in shares of Invesco Water Resources ETF by 3.6% during the fourth quarter. Bank of America Corp DE now owns 1,686,274 shares of the company’s stock worth $110,940,000 after purchasing an additional 58,316 shares during the period. LPL Financial LLC raised its position in shares of Invesco Water Resources ETF by 10.2% during the fourth quarter. LPL Financial LLC now owns 750,169 shares of the company’s stock worth $49,354,000 after purchasing an additional 69,546 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Invesco Water Resources ETF during the fourth quarter worth $34,604,000. HighTower Advisors LLC raised its position in shares of Invesco Water Resources ETF by 1.5% during the fourth quarter. HighTower Advisors LLC now owns 411,275 shares of the company’s stock worth $27,058,000 after purchasing an additional 5,881 shares during the period. Finally, Royal Bank of Canada raised its position in shares of Invesco Water Resources ETF by 2.6% during the fourth quarter. Royal Bank of Canada now owns 405,324 shares of the company’s stock worth $26,666,000 after purchasing an additional 10,405 shares during the period.

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.