Invesco Floating Rate Municipal Income ETF (NYSEARCA:PVI) Trading 0% Higher – Should You Buy?

Invesco Floating Rate Municipal Income ETF (NYSEARCA:PVI) traded up 0% during trading on Monday . The company traded as high as $24.89 and last traded at $24.82. 7,487 shares were traded during mid-day trading, a decline of 6% from the average session volume of 7,995 shares. The stock had previously closed at $24.81.

Invesco Floating Rate Municipal Income ETF Price Performance

The stock’s 50-day moving average price is $24.83 and its 200-day moving average price is $24.84.

Invesco Floating Rate Municipal Income ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, January 23rd. Stockholders of record on Tuesday, January 20th were issued a dividend of $0.0573 per share. This is a boost from Invesco Floating Rate Municipal Income ETF’s previous monthly dividend of $0.05. This represents a c) annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Tuesday, January 20th.

Institutional Trading of Invesco Floating Rate Municipal Income ETF

A number of institutional investors have recently modified their holdings of the stock. Wealthcare Capital Management LLC acquired a new position in Invesco Floating Rate Municipal Income ETF in the fourth quarter valued at about $283,000. Wealthcare Advisory Partners LLC raised its holdings in shares of Invesco Floating Rate Municipal Income ETF by 44.2% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 79,297 shares of the company’s stock worth $1,976,000 after buying an additional 24,302 shares in the last quarter. Avior Wealth Management LLC boosted its stake in Invesco Floating Rate Municipal Income ETF by 4.6% in the fourth quarter. Avior Wealth Management LLC now owns 18,329 shares of the company’s stock valued at $457,000 after buying an additional 798 shares in the last quarter. Susquehanna International Group LLP bought a new position in Invesco Floating Rate Municipal Income ETF in the third quarter valued at about $474,000. Finally, Foundations Investment Advisors LLC grew its position in Invesco Floating Rate Municipal Income ETF by 17.0% in the third quarter. Foundations Investment Advisors LLC now owns 21,218 shares of the company’s stock valued at $527,000 after acquiring an additional 3,087 shares during the last quarter.

Invesco Floating Rate Municipal Income ETF Company Profile

The Invesco VRDO Tax-Free ETF (PVI) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund tracks a market-value-weighted index of VRDOs issued by US municipalities. PVI was launched on Nov 15, 2007 and is managed by Invesco.