Mader & Shannon Wealth Management Inc. bought a new position in shares of Invesco Variable Rate Preferred ETF (NYSEARCA:VRP – Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 742,105 shares of the company’s stock, valued at approximately $17,595,000. Invesco Variable Rate Preferred ETF comprises approximately 7.4% of Mader & Shannon Wealth Management Inc.’s investment portfolio, making the stock its 6th biggest position.
Other hedge funds have also added to or reduced their stakes in the company. Burke & Herbert Bank & Trust Co. acquired a new stake in Invesco Variable Rate Preferred ETF in the 3rd quarter valued at $760,000. Pekin Hardy Strauss Inc. acquired a new position in shares of Invesco Variable Rate Preferred ETF during the 3rd quarter worth about $645,000. Kestra Advisory Services LLC boosted its stake in shares of Invesco Variable Rate Preferred ETF by 3.8% during the 3rd quarter. Kestra Advisory Services LLC now owns 79,920 shares of the company’s stock worth $1,895,000 after buying an additional 2,907 shares during the last quarter. Howard Wealth Management LLC boosted its stake in shares of Invesco Variable Rate Preferred ETF by 3.9% during the 3rd quarter. Howard Wealth Management LLC now owns 107,052 shares of the company’s stock worth $2,538,000 after buying an additional 3,972 shares during the last quarter. Finally, D.A. Davidson & CO. bought a new position in shares of Invesco Variable Rate Preferred ETF in the 3rd quarter valued at about $1,606,000.
Invesco Variable Rate Preferred ETF Price Performance
Shares of NYSEARCA VRP traded up $0.06 during mid-day trading on Friday, hitting $23.70. The company had a trading volume of 1,251,272 shares, compared to its average volume of 649,254. The firm has a 50-day simple moving average of $23.81 and a two-hundred day simple moving average of $24.18. Invesco Variable Rate Preferred ETF has a one year low of $23.47 and a one year high of $24.68.
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.
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