Freedom Investment Management Inc. has reduced its stake in the Invesco Water Resources ETF (NASDAQ: PHO) by 1.9% during the second quarter of 2023. According to a recent Form 13F filing with the Securities and Exchange Commission, the firm now holds 13,112 shares after divesting 249 shares during this period. The value of Freedom Investment Management’s holdings in the ETF stood at approximately $917,000 at the end of the quarter.
A number of other institutional investors have also adjusted their positions in the Invesco Water Resources ETF. Golden State Wealth Management LLC notably increased its holdings by 100.0% in the first quarter, acquiring an additional 248 shares to reach 496 shares, valued at $32,000. Meanwhile, TFC Financial Management Inc. entered a new position in the fund, investing $114,000 during the same period.
Sovran Advisors LLC expanded its stake by 23.2%, now owning 17,653 shares worth approximately $1,099,000 after purchasing an additional 3,329 shares. Similarly, Verity Asset Management Inc. increased its holdings by 0.6%, now possessing 27,618 shares valued at around $1,782,000 following a purchase of 178 shares. Lastly, Ameritas Advisory Services LLC raised its stake by 23.9%, owning 4,768 shares worth $310,000 after acquiring 919 shares.
Market Activity and Performance
On the trading front, the Invesco Water Resources ETF saw a slight increase of 0.4% on Friday, opening at $74.44. The ETF has demonstrated solid performance, with a fifty-day simple moving average of $72.58 and a two-hundred-day simple moving average of $69.72. It boasts a market capitalization of $2.25 billion, a price-to-earnings ratio of 25.38, and a beta of 0.96. Over the past year, the ETF reached a low of $57.11 and a high of $74.93.
The Invesco Water Resources ETF aims to mirror the performance of the NASDAQ OMX US Water Index, investing at least 90% of its total assets in common stocks that comprise this index. This index tracks U.S. companies focused on products designed for water conservation and purification for residential, commercial, and industrial use.
Investors seeking to monitor changes in the holdings of the Invesco Water Resources ETF can refer to platforms like HoldingsChannel.com, which provide updated information on Form 13F filings and insider trades.
