Invesco Variable Rate Preferred ETF $VRP Stock: Elmwood Wealth Management Inc. Increases Position

Elmwood Wealth Management Inc. lifted its stake in Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) by 23.6% in the 3rd quarter, Holdings Channel reports. The firm owned 174,877 shares of the company’s stock after purchasing an additional 33,399 shares during the quarter. Elmwood Wealth Management Inc.’s holdings in Invesco Variable Rate Preferred ETF were worth $4,146,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in VRP. Stephens Inc. AR boosted its holdings in Invesco Variable Rate Preferred ETF by 4.6% during the first quarter. Stephens Inc. AR now owns 1,478,797 shares of the company’s stock worth $35,462,000 after buying an additional 64,978 shares in the last quarter. Insight Wealth Strategies LLC acquired a new position in Invesco Variable Rate Preferred ETF during the second quarter worth about $22,654,000. Sanctuary Advisors LLC increased its holdings in Invesco Variable Rate Preferred ETF by 6.5% in the first quarter. Sanctuary Advisors LLC now owns 417,981 shares of the company’s stock valued at $10,023,000 after buying an additional 25,629 shares in the last quarter. Matthew Goff Investment Advisor LLC purchased a new position in Invesco Variable Rate Preferred ETF in the first quarter valued at about $9,708,000. Finally, Janney Montgomery Scott LLC increased its holdings in Invesco Variable Rate Preferred ETF by 13.5% in the first quarter. Janney Montgomery Scott LLC now owns 393,325 shares of the company’s stock valued at $9,432,000 after buying an additional 46,747 shares in the last quarter.

Invesco Variable Rate Preferred ETF Price Performance

Shares of NYSEARCA:VRP traded down $0.04 during trading on Wednesday, hitting $23.68. 451,980 shares of the stock were exchanged, compared to its average volume of 623,568. The company has a fifty day moving average price of $24.01 and a two-hundred day moving average price of $24.19. Invesco Variable Rate Preferred ETF has a 12-month low of $23.59 and a 12-month high of $24.85.

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.