Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) Reaches New 12-Month Low – What’s Next?

Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $23.14 and last traded at $23.48, with a volume of 470356 shares changing hands. The stock had previously closed at $23.60.

Invesco Variable Rate Preferred ETF Stock Performance

The business has a 50-day moving average price of $24.31 and a 200 day moving average price of $24.37.

Invesco Variable Rate Preferred ETF Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 24th were paid a $0.1031 dividend. The ex-dividend date was Monday, March 24th.

Institutional Investors Weigh In On Invesco Variable Rate Preferred ETF

Several hedge funds have recently made changes to their positions in VRP. Beta Wealth Group Inc. grew its stake in Invesco Variable Rate Preferred ETF by 0.8% during the 4th quarter. Beta Wealth Group Inc. now owns 49,330 shares of the company’s stock valued at $1,193,000 after acquiring an additional 413 shares in the last quarter. Addison Capital Co increased its stake in Invesco Variable Rate Preferred ETF by 0.6% in the 4th quarter. Addison Capital Co now owns 85,461 shares of the company’s stock valued at $2,067,000 after buying an additional 485 shares during the period. Oder Investment Management LLC lifted its position in Invesco Variable Rate Preferred ETF by 0.5% in the 4th quarter. Oder Investment Management LLC now owns 96,602 shares of the company’s stock worth $2,337,000 after buying an additional 498 shares in the last quarter. Corient Private Wealth LLC boosted its stake in shares of Invesco Variable Rate Preferred ETF by 1.7% during the 4th quarter. Corient Private Wealth LLC now owns 32,667 shares of the company’s stock valued at $790,000 after buying an additional 553 shares during the period. Finally, Endowment Wealth Management Inc. grew its holdings in shares of Invesco Variable Rate Preferred ETF by 7.6% during the 4th quarter. Endowment Wealth Management Inc. now owns 11,120 shares of the company’s stock valued at $269,000 after acquiring an additional 788 shares in the last quarter.

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.