Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) Sees Significant Growth in Short Interest

Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) was the target of a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 456,082 shares, a growth of 102.3% from the February 12th total of 225,430 shares. Approximately 0.5% of the company’s shares are short sold. Based on an average daily volume of 443,495 shares, the days-to-cover ratio is currently 1.0 days. Based on an average daily volume of 443,495 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.5% of the company’s shares are short sold.

Invesco Variable Rate Preferred ETF Trading Down 0.3%

Shares of NYSEARCA VRP traded down $0.07 during midday trading on Friday, reaching $24.16. 695,579 shares of the stock were exchanged, compared to its average volume of 563,416. Invesco Variable Rate Preferred ETF has a 12 month low of $23.03 and a 12 month high of $24.93. The business has a 50-day simple moving average of $24.44 and a two-hundred day simple moving average of $24.53.

Invesco Variable Rate Preferred ETF Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 23rd were paid a $0.1019 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date was Monday, February 23rd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of VRP. Bank of America Corp DE increased its stake in shares of Invesco Variable Rate Preferred ETF by 6.2% during the 3rd quarter. Bank of America Corp DE now owns 8,491,380 shares of the company’s stock worth $209,737,000 after purchasing an additional 497,911 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Invesco Variable Rate Preferred ETF by 11.5% during the fourth quarter. Wells Fargo & Company MN now owns 3,508,606 shares of the company’s stock valued at $85,364,000 after purchasing an additional 360,543 shares during the period. LPL Financial LLC increased its position in Invesco Variable Rate Preferred ETF by 17.8% in the fourth quarter. LPL Financial LLC now owns 2,652,479 shares of the company’s stock worth $64,535,000 after buying an additional 399,914 shares during the last quarter. UBS Group AG increased its position in Invesco Variable Rate Preferred ETF by 1.0% in the fourth quarter. UBS Group AG now owns 2,175,176 shares of the company’s stock worth $52,922,000 after buying an additional 21,479 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Invesco Variable Rate Preferred ETF by 12.6% in the fourth quarter. JPMorgan Chase & Co. now owns 1,957,799 shares of the company’s stock valued at $47,633,000 after buying an additional 219,807 shares during the period.

Invesco Variable Rate Preferred ETF Company Profile

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.