McGinn Penninger Investment Management Inc. Trims Stock Holdings in Invesco Water Resources ETF $PHO

McGinn Penninger Investment Management Inc. reduced its stake in Invesco Water Resources ETF (NASDAQ:PHO) by 27.0% during the second quarter, HoldingsChannel reports. The fund owned 11,474 shares of the company’s stock after selling 4,235 shares during the period. Invesco Water Resources ETF comprises approximately 0.5% of McGinn Penninger Investment Management Inc.’s holdings, making the stock its 27th largest position. McGinn Penninger Investment Management Inc.’s holdings in Invesco Water Resources ETF were worth $802,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Assetmark Inc. purchased a new stake in shares of Invesco Water Resources ETF during the first quarter valued at $25,000. Costello Asset Management INC bought a new position in shares of Invesco Water Resources ETF in the first quarter worth about $26,000. Garde Capital Inc. purchased a new position in Invesco Water Resources ETF during the 2nd quarter valued at approximately $32,000. Keener Financial Planning LLC purchased a new position in Invesco Water Resources ETF during the 2nd quarter valued at approximately $41,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Invesco Water Resources ETF in the 1st quarter worth approximately $46,000.

Invesco Water Resources ETF Stock Performance

Shares of Invesco Water Resources ETF stock opened at $71.10 on Tuesday. Invesco Water Resources ETF has a one year low of $57.11 and a one year high of $74.93. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 25.38 and a beta of 1.02. The stock has a 50 day moving average price of $72.48 and a 200-day moving average price of $70.33.

Invesco Water Resources ETF Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Monday, September 22nd were given a $0.093 dividend. This represents a $0.37 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, September 22nd.

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.