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

Invesco Water Resources ETF (NASDAQ:PHOGet Rating) was the recipient of a large drop in short interest in April. As of April 30th, there was short interest totalling 7,000 shares, a drop of 32.0% from the April 15th total of 10,300 shares. Based on an average daily volume of 127,700 shares, the days-to-cover ratio is currently 0.1 days.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Ahrens Investment Partners LLC bought a new stake in shares of Invesco Water Resources ETF during the 4th quarter worth $29,000. Joseph P. Lucia & Associates LLC bought a new stake in shares of Invesco Water Resources ETF during the 1st quarter worth $30,000. Prospera Financial Services Inc bought a new stake in shares of Invesco Water Resources ETF during the 1st quarter worth $39,000. Cullen Frost Bankers Inc. bought a new stake in shares of Invesco Water Resources ETF during the 4th quarter worth $40,000. Finally, FMR LLC boosted its stake in shares of Invesco Water Resources ETF by 43.7% during the 1st quarter. FMR LLC now owns 1,233 shares of the company’s stock worth $42,000 after acquiring an additional 375 shares in the last quarter.

NASDAQ PHO traded up $0.80 on Friday, reaching $47.70. 68,966 shares of the stock traded hands, compared to its average volume of 151,833. The firm’s fifty day simple moving average is $51.15 and its 200 day simple moving average is $54.44. Invesco Water Resources ETF has a 12 month low of $46.08 and a 12 month high of $61.11.

About Invesco Water Resources ETF (Get Rating)

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.

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