CW Advisors LLC has significantly reduced its investment in the Invesco Water Resources ETF (NASDAQ: PHO), selling 14,931 shares during the second quarter of 2023. This move lowers the firm’s holdings by 49.8%, bringing its total ownership to 15,069 shares, which were valued at approximately $1,054,000 as of the latest filing with the Securities and Exchange Commission (SEC).
This decision reflects a broader trend among institutional investors regarding the Invesco Water Resources ETF. Other firms have also adjusted their positions in recent months. For instance, 1832 Asset Management L.P. increased its stake in the ETF by 1.8% in the first quarter, now holding 500,911 shares worth about $32.3 million after acquiring an additional 8,757 shares.
Similarly, HighTower Advisors LLC expanded its investment by 1.1%, currently owning 415,878 shares valued at around $26.8 million after purchasing 4,603 shares in the same period. Other notable transactions include Gitterman Wealth Management LLC, which established a new stake valued at approximately $23.4 million, and Cetera Investment Advisers, increasing its holdings by 3.7% to 218,838 shares worth $15.3 million.
Market Performance and Dividend Update
On the trading front, Invesco Water Resources ETF shares opened at $71.31 on September 26, 2023, reflecting a 0.9% decline. The ETF’s market capitalization stands at approximately $2.13 billion, with a price-to-earnings (P/E) ratio of 25.38 and a beta of 1.02. The fund has fluctuated between a one-year low of $57.11 and a high of $74.93.
Invesco also announced a quarterly dividend of $0.093, which was paid to shareholders on September 26, 2023. This dividend translates to an annualized figure of $0.37, yielding 0.5%. The ex-dividend date was set for September 22, 2023, making this an important date for investors tracking dividend payments.
The Invesco Water Resources ETF seeks to replicate the performance of the NASDAQ OMX US Water Index, investing at least 90% of its total assets in stocks that focus on water conservation and purification. This strategic focus positions it as a significant player in the sustainable investment landscape, appealing to environmentally conscious investors.
As the market continues to evolve, the movements of institutional investors such as CW Advisors LLC provide valuable insights into the shifting dynamics of investment strategies in the water management sector. Investors and analysts will be keen to monitor further developments and potential impacts on the ETF’s performance.