King Wealth Management Group Trims Stake in Invesco Variable Rate Preferred ETF (NYSEARCA:VRP)

King Wealth Management Group reduced its position in Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) by 1.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 42,353 shares of the company’s stock after selling 447 shares during the period. King Wealth Management Group’s holdings in Invesco Variable Rate Preferred ETF were worth $1,036,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in VRP. Advisory Alpha LLC raised its stake in shares of Invesco Variable Rate Preferred ETF by 2.9% during the second quarter. Advisory Alpha LLC now owns 2,009,869 shares of the company’s stock valued at $48,158,000 after purchasing an additional 57,456 shares during the period. Stephens Inc. AR raised its position in shares of Invesco Variable Rate Preferred ETF by 0.4% during the 3rd quarter. Stephens Inc. AR now owns 1,414,175 shares of the company’s stock valued at $34,591,000 after acquiring an additional 5,892 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Invesco Variable Rate Preferred ETF by 18.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 969,444 shares of the company’s stock valued at $23,228,000 after buying an additional 152,981 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Invesco Variable Rate Preferred ETF by 0.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 459,464 shares of the company’s stock worth $11,008,000 after purchasing an additional 2,673 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC grew its position in shares of Invesco Variable Rate Preferred ETF by 2.7% during the third quarter. Ashton Thomas Private Wealth LLC now owns 442,678 shares of the company’s stock worth $10,828,000 after acquiring an additional 11,612 shares during the last quarter.

Invesco Variable Rate Preferred ETF Price Performance

Shares of VRP stock opened at $24.50 on Friday. Invesco Variable Rate Preferred ETF has a 12-month low of $22.36 and a 12-month high of $24.67. The business has a 50 day simple moving average of $24.47 and a 200 day simple moving average of $24.13.

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.