Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) Sets New 12-Month Low – Here’s What Happened

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. The stock had previously closed at $23.66.

Invesco Variable Rate Preferred ETF Price Performance

The stock’s 50-day moving average is $23.95 and its 200 day moving average is $24.18.

Institutional Investors Weigh In On Invesco Variable Rate Preferred ETF

Several hedge funds have recently modified their holdings of the stock. Power Wealth Management LLC acquired a new position in shares of Invesco Variable Rate Preferred ETF in the 2nd quarter valued at $2,026,000. Stephens Inc. AR boosted its holdings in Invesco Variable Rate Preferred ETF by 4.6% in the first quarter. Stephens Inc. AR now owns 1,478,797 shares of the company’s stock valued at $35,462,000 after acquiring an additional 64,978 shares during the last quarter. Insight Wealth Strategies LLC acquired a new position in Invesco Variable Rate Preferred ETF in the second quarter valued at $22,654,000. Matthew Goff Investment Advisor LLC acquired a new position in Invesco Variable Rate Preferred ETF in the first quarter valued at $9,708,000. Finally, Independent Financial Group LLC purchased a new stake in Invesco Variable Rate Preferred ETF during the first quarter valued at about $3,025,000.

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.