Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) Sees Unusually-High Trading Volume – Here’s Why

Shares of Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) saw unusually-strong trading volume on Monday . Approximately 932,919 shares changed hands during 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 Stock Up 0.1%

The stock’s fifty day moving average price is $24.42 and its 200 day moving average price is $24.54.

Invesco Variable Rate Preferred ETF Cuts Dividend

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

Institutional Investors Weigh In On Invesco Variable Rate Preferred ETF

Several hedge funds have recently added to or reduced their stakes in VRP. Advisory Services Network LLC increased its position in shares of Invesco Variable Rate Preferred ETF by 1.4% during the 3rd quarter. Advisory Services Network LLC now owns 33,782 shares of the company’s stock valued at $834,000 after purchasing an additional 458 shares during the last quarter. Corient Private Wealth LLC boosted its stake in Invesco Variable Rate Preferred ETF by 1.4% in the second quarter. Corient Private Wealth LLC now owns 36,992 shares of the company’s stock worth $904,000 after buying an additional 520 shares in the last quarter. Atria Wealth Solutions Inc. grew its position in Invesco Variable Rate Preferred ETF by 1.8% during the second quarter. Atria Wealth Solutions Inc. now owns 30,406 shares of the company’s stock valued at $745,000 after acquiring an additional 534 shares during the last quarter. Endowment Wealth Management Inc. raised its stake in shares of Invesco Variable Rate Preferred ETF by 3.5% during the fourth quarter. Endowment Wealth Management Inc. now owns 16,481 shares of the company’s stock worth $401,000 after acquiring an additional 554 shares in the last quarter. Finally, Cary Street Partners Financial LLC raised its stake in shares of Invesco Variable Rate Preferred ETF by 0.9% during the second quarter. Cary Street Partners Financial LLC now owns 66,372 shares of the company’s stock worth $1,623,000 after acquiring an additional 600 shares in the last quarter.

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.