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

Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) shares saw unusually-strong trading volume on Monday . Approximately 932,919 shares traded 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 Price Performance

The firm has a fifty day simple moving average of $24.42 and a 200 day simple moving average of $24.54.

Invesco Variable Rate Preferred ETF Cuts Dividend

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

Institutional Trading of Invesco Variable Rate Preferred ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its holdings in shares of Invesco Variable Rate Preferred ETF by 47.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,737,992 shares of the company’s stock worth $42,928,000 after purchasing an additional 561,811 shares during the last quarter. Spectrum Asset Management Inc. raised its position in Invesco Variable Rate Preferred ETF by 798.8% in the 4th quarter. Spectrum Asset Management Inc. now owns 564,181 shares of the company’s stock valued at $13,727,000 after purchasing an additional 501,409 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Invesco Variable Rate Preferred ETF by 6.2% during the third quarter. Bank of America Corp DE now owns 8,491,380 shares of the company’s stock worth $209,737,000 after purchasing an additional 497,911 shares during the last quarter. Westover Capital Advisors LLC acquired a new position in Invesco Variable Rate Preferred ETF during the 2nd quarter worth about $8,438,000. Finally, Blue Water Asset Management acquired a new stake in Invesco Variable Rate Preferred ETF in the 4th quarter valued at about $6,790,000.

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.