MAI Capital Management Increases Position in Invesco Variable Rate Preferred ETF $VRP

MAI Capital Management increased its stake in shares of Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) by 11.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 370,189 shares of the company’s stock after purchasing an additional 38,352 shares during the quarter. MAI Capital Management owned approximately 0.40% of Invesco Variable Rate Preferred ETF worth $9,144,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its holdings in Invesco Variable Rate Preferred ETF by 4.9% in the second quarter. Bank of America Corp DE now owns 7,993,469 shares of the company’s stock worth $195,440,000 after purchasing an additional 372,214 shares in the last quarter. JPMorgan Chase & Co. grew its position 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 buying an additional 561,811 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Invesco Variable Rate Preferred ETF by 11.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,628,178 shares of the company’s stock worth $40,216,000 after acquiring an additional 165,578 shares in the last quarter. Stephens Inc. AR lifted its position in Invesco Variable Rate Preferred ETF by 2.2% during the third quarter. Stephens Inc. AR now owns 1,415,320 shares of the company’s stock valued at $34,958,000 after acquiring an additional 30,698 shares during the last quarter. Finally, Advisors Capital Management LLC lifted its position in Invesco Variable Rate Preferred ETF by 7.3% during the third quarter. Advisors Capital Management LLC now owns 1,296,804 shares of the company’s stock valued at $32,031,000 after acquiring an additional 87,810 shares during the last quarter.

Invesco Variable Rate Preferred ETF Stock Up 0.1%

NYSEARCA VRP opened at $24.54 on Friday. The firm’s fifty day simple moving average is $24.45 and its two-hundred day simple moving average is $24.55. Invesco Variable Rate Preferred ETF has a 12-month low of $23.03 and a 12-month high of $24.93.

Invesco Variable Rate Preferred ETF Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Monday, February 23rd will be given a dividend of $0.1019 per share. This represents a c) annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Monday, February 23rd.

Invesco Variable Rate Preferred ETF 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.