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

Invesco Variable Rate Preferred ETF (NYSEARCA:VRP)’s share price reached a new 52-week low during trading on Monday. The stock traded as low as $23.61 and last traded at $23.61, with a volume of 3158 shares changing hands. The stock had previously closed at $23.78.

Invesco Variable Rate Preferred ETF Stock Down 0.0%

The business has a 50 day simple moving average of $24.10 and a 200-day simple moving average of $24.22.

Institutional Investors Weigh In On Invesco Variable Rate Preferred ETF

A number of institutional investors have recently bought and sold shares of the stock. Insight Wealth Strategies LLC purchased a new stake in Invesco Variable Rate Preferred ETF during the second quarter valued at about $22,654,000. Matthew Goff Investment Advisor LLC purchased a new position in shares of Invesco Variable Rate Preferred ETF in the 1st quarter worth about $9,708,000. Avior Wealth Management LLC raised its holdings in shares of Invesco Variable Rate Preferred ETF by 87.3% in the 2nd quarter. Avior Wealth Management LLC now owns 351,681 shares of the company’s stock worth $8,549,000 after purchasing an additional 163,937 shares during the period. Independent Financial Group LLC acquired a new position in shares of Invesco Variable Rate Preferred ETF in the 1st quarter valued at about $3,025,000. Finally, Apella Capital LLC purchased a new stake in shares of Invesco Variable Rate Preferred ETF during the 1st quarter worth about $2,822,000.

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.