Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) Hits New 52-Week Low – Should You Sell?

Invesco Variable Rate Preferred ETF (NYSEARCA:VRP)’s stock price hit a new 52-week low on Monday. The stock traded as low as $23.49 and last traded at $23.5250, with a volume of 41,402 shares trading hands. The stock had previously closed at $23.66.

Invesco Variable Rate Preferred ETF Stock Down 0.6%

The business’s 50 day moving average is $23.98 and its 200-day moving average is $24.19.

Institutional Investors Weigh In On Invesco Variable Rate Preferred ETF

Institutional investors have recently modified their holdings of the company. Atwood & Palmer Inc. acquired a new stake in Invesco Variable Rate Preferred ETF during the 3rd quarter worth $43,000. International Assets Investment Management LLC boosted its stake in Invesco Variable Rate Preferred ETF by 51.4% in the first quarter. International Assets Investment Management LLC now owns 3,180 shares of the company’s stock valued at $77,000 after acquiring an additional 1,080 shares in the last quarter. Ascentis Independent Advisors acquired a new position in Invesco Variable Rate Preferred ETF in the first quarter valued at $141,000. Coastline Trust Co purchased a new position in shares of Invesco Variable Rate Preferred ETF during the third quarter worth about $154,000. Finally, LFA Lugano Financial Advisors SA grew its holdings in shares of Invesco Variable Rate Preferred ETF by 83.8% during the first quarter. LFA Lugano Financial Advisors SA now owns 9,313 shares of the company’s stock worth $222,000 after purchasing an additional 4,246 shares during 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.