Invesco Variable Rate Investment Grade ETF (NASDAQ:VRIG) Short Interest Down 78.1% in May

Invesco Variable Rate Investment Grade ETF (NASDAQ:VRIG) was the recipient of a large decline in short interest in May. As of May 29th, there was short interest totaling 90,789 shares, a decline of 78.1% from the May 14th total of 414,353 shares. Based on an average daily volume of 377,259 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.2% of the company’s stock are sold short.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC purchased a new stake in shares of Invesco Variable Rate Investment Grade ETF in the 1st quarter valued at approximately $1,235,000. JPMorgan Chase & Co. lifted its position in shares of Invesco Variable Rate Investment Grade ETF by 64.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 37,912 shares of the company’s stock worth $950,000 after purchasing an additional 14,805 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Invesco Variable Rate Investment Grade ETF by 4.8% during the 2nd quarter. First Trust Advisors LP now owns 117,855 shares of the company’s stock worth $2,952,000 after purchasing an additional 5,351 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of Invesco Variable Rate Investment Grade ETF by 6.4% during the second quarter. NewEdge Advisors LLC now owns 27,320 shares of the company’s stock worth $684,000 after purchasing an additional 1,641 shares in the last quarter. Finally, Raymond James Financial Inc. grew its stake in shares of Invesco Variable Rate Investment Grade ETF by 26.3% during the second quarter. Raymond James Financial Inc. now owns 385,708 shares of the company’s stock worth $9,662,000 after purchasing an additional 80,277 shares in the last quarter.

Invesco Variable Rate Investment Grade ETF Stock Performance

Shares of NASDAQ VRIG opened at $25.09 on Wednesday. The stock’s 50-day moving average is $25.06 and its two-hundred day moving average is $25.09. Invesco Variable Rate Investment Grade ETF has a 1-year low of $25.00 and a 1-year high of $25.18.

Invesco Variable Rate Investment Grade ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 18th were paid a dividend of $0.0937 per share. The ex-dividend date was Monday, May 18th. This is a positive change from Invesco Variable Rate Investment Grade ETF’s previous monthly dividend of $0.09. This represents a c) dividend on an annualized basis and a dividend yield of 4.5%.

Invesco Variable Rate Investment Grade ETF Company Profile

The Invesco Variable Rate Investment Grade ETF (VRIG) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively-managed fund that primarily invests in USD-denominated investment-grade floating-rate securities, but can hold up to 20% in non-investment-grade securities. VRIG was launched on Sep 22, 2016 and is managed by Invesco.