Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) Sees Strong Trading Volume – Time to Buy?

Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) shares saw an uptick in trading volume on Monday . 932,919 shares changed hands during mid-day trading, an increase of 59% from the previous session’s volume of 587,810 shares.The stock last traded at $24.4450 and had previously closed at $24.47.

Invesco Variable Rate Preferred ETF Price Performance

The firm has a 50 day moving average of $24.42 and a 200-day moving average of $24.54.

Invesco Variable Rate Preferred ETF Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, January 23rd. Investors of record on Tuesday, January 20th were given a dividend of $0.1019 per share. The ex-dividend date of this dividend was Tuesday, January 20th. This represents a c) dividend on an annualized basis and a yield of 5.0%.

Hedge Funds Weigh In On Invesco Variable Rate Preferred ETF

Several institutional investors and hedge funds have recently modified their holdings of VRP. NewEdge Advisors LLC raised its holdings in shares of Invesco Variable Rate Preferred ETF by 18.6% during the first quarter. NewEdge Advisors LLC now owns 16,791 shares of the company’s stock worth $407,000 after acquiring an additional 2,636 shares in the last quarter. IFP Advisors Inc raised its position in Invesco Variable Rate Preferred ETF by 3.8% during the second quarter. IFP Advisors Inc now owns 64,938 shares of the company’s stock valued at $1,588,000 after acquiring an additional 2,360 shares in the last quarter. CWM LLC grew its position in Invesco Variable Rate Preferred ETF by 37.1% in the second quarter. CWM LLC now owns 81,349 shares of the company’s stock worth $1,989,000 after acquiring an additional 22,004 shares in the last quarter. Endowment Wealth Management Inc. increased its stake in shares of Invesco Variable Rate Preferred ETF by 9.7% during the 2nd quarter. Endowment Wealth Management Inc. now owns 12,827 shares of the company’s stock worth $314,000 after purchasing an additional 1,138 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in shares of Invesco Variable Rate Preferred ETF by 22.6% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 115,026 shares of the company’s stock valued at $2,812,000 after purchasing an additional 21,185 shares in the last quarter.

About Invesco Variable Rate Preferred ETF

The Invesco Variable Rate Preferred ETF (VRP) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund tracks a market-value-weighted index of variable- and floating-rate preferred stocks. VRP was launched on May 1, 2014 and is managed by Invesco.