Invesco Variable Rate Investment Grade ETF (NASDAQ:VRIG) Sees Large Volume Increase – Still a Buy?

Invesco Variable Rate Investment Grade ETF (NASDAQ:VRIG) saw unusually-high trading volume on Tuesday . 1,290,156 shares changed hands during mid-day trading, an increase of 167% from the previous session’s volume of 482,637 shares.The stock last traded at $25.11 and had previously closed at $25.10.

Invesco Variable Rate Investment Grade ETF Trading Up 0.1%

The stock has a 50 day moving average price of $25.08 and a two-hundred day moving average price of $25.09.

Invesco Variable Rate Investment Grade ETF Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, June 26th. Investors of record on Monday, June 22nd were paid a $0.0919 dividend. The ex-dividend date was Monday, June 22nd. This represents a c) dividend on an annualized basis and a yield of 4.4%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Invesco Ltd. increased its position in shares of Invesco Variable Rate Investment Grade ETF by 26.5% in the 4th quarter. Invesco Ltd. now owns 13,338,402 shares of the company’s stock valued at $334,794,000 after acquiring an additional 2,790,286 shares during the period. Bank of New York Mellon Corp lifted its position in Invesco Variable Rate Investment Grade ETF by 79.6% during the 1st quarter. Bank of New York Mellon Corp now owns 1,781,949 shares of the company’s stock worth $44,611,000 after acquiring an additional 789,612 shares during the period. Auour Investments LLC acquired a new stake in Invesco Variable Rate Investment Grade ETF during the 1st quarter worth about $7,360,000. Morgan Stanley lifted its position in Invesco Variable Rate Investment Grade ETF by 10.0% during the 4th quarter. Morgan Stanley now owns 2,246,537 shares of the company’s stock worth $56,388,000 after acquiring an additional 205,031 shares during the period. Finally, Harfst & Associates Inc. grew its stake in Invesco Variable Rate Investment Grade ETF by 140.2% during the 4th quarter. Harfst & Associates Inc. now owns 344,096 shares of the company’s stock valued at $8,637,000 after purchasing an additional 200,845 shares during the last quarter.

Invesco Variable Rate Investment Grade ETF Company Profile

The Invesco Variable Rate Investment Grade ETF (VRIG) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively-managed fund that primarily invests in USD-denominated investment-grade floating-rate securities, but can hold up to 20% in non-investment-grade securities. VRIG was launched on Sep 22, 2016 and is managed by Invesco.