Invesco Water Resources ETF (NASDAQ:PHO) Sees Large Growth in Short Interest

Invesco Water Resources ETF (NASDAQ:PHO) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 47,100 shares, a growth of 58.6% from the February 28th total of 29,700 shares. Based on an average daily volume of 76,200 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.1% of the company’s shares are sold short.

Invesco Water Resources ETF Price Performance

Shares of NASDAQ:PHO traded down $0.99 during midday trading on Friday, reaching $64.29. 32,568 shares of the company’s stock were exchanged, compared to its average volume of 70,848. The firm’s 50 day simple moving average is $66.74 and its two-hundred day simple moving average is $68.27. Invesco Water Resources ETF has a fifty-two week low of $62.82 and a fifty-two week high of $72.59. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 25.16 and a beta of 0.96.

Invesco Water Resources ETF Increases Dividend

The business also recently declared a dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 24th were paid a $0.098 dividend. This is an increase from Invesco Water Resources ETF’s previous dividend of $0.09. The ex-dividend date was Monday, March 24th.

Hedge Funds Weigh In On Invesco Water Resources ETF

A number of hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new stake in 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 stake in Invesco Water Resources ETF in the fourth quarter valued at approximately $7,366,000. LPL Financial LLC grew its holdings in Invesco Water Resources ETF by 10.2% during the 4th quarter. LPL Financial LLC now owns 750,169 shares of the company’s stock worth $49,354,000 after acquiring an additional 69,546 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Invesco Water Resources ETF by 3.6% in the 4th 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 in the last quarter. Finally, IFP Advisors Inc lifted its position 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 purchasing an additional 32,055 shares during the last quarter.

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.