Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) Sees Significant Growth in Short Interest

Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) was the target of a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 242,817 shares, an increase of 84.7% from the December 31st total of 131,461 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average trading volume of 648,051 shares, the short-interest ratio is currently 0.4 days. Based on an average trading volume of 648,051 shares, the short-interest ratio is currently 0.4 days. Currently, 0.2% of the company’s stock are short sold.

Institutional Trading of Invesco Variable Rate Preferred ETF

A number of hedge funds have recently modified their holdings of VRP. Bank of America Corp DE lifted its position in Invesco Variable Rate Preferred ETF by 6.2% in 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 period. UBS Group AG lifted its holdings in shares of Invesco Variable Rate Preferred ETF by 1.0% during the 4th quarter. UBS Group AG now owns 2,175,176 shares of the company’s stock worth $52,922,000 after acquiring an additional 21,479 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Invesco Variable Rate Preferred ETF by 47.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,737,992 shares of the company’s stock valued at $42,928,000 after acquiring an additional 561,811 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Invesco Variable Rate Preferred ETF by 11.3% in the third quarter. Envestnet Asset Management Inc. now owns 1,628,178 shares of the company’s stock valued at $40,216,000 after acquiring an additional 165,578 shares during the period. Finally, Advisors Capital Management LLC raised its position in Invesco Variable Rate Preferred ETF by 9.9% in the fourth quarter. Advisors Capital Management LLC now owns 1,425,305 shares of the company’s stock worth $34,678,000 after purchasing an additional 128,501 shares in the last quarter.

Invesco Variable Rate Preferred ETF Stock Performance

NYSEARCA:VRP traded up $0.01 during midday trading on Friday, reaching $24.44. The stock had a trading volume of 371,019 shares, compared to its average volume of 629,146. Invesco Variable Rate Preferred ETF has a 1-year low of $23.03 and a 1-year high of $24.93. The firm’s fifty day simple moving average is $24.41 and its 200-day simple moving average is $24.54.

Invesco Variable Rate Preferred ETF Cuts Dividend

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

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.