Wells Fargo & Company MN Grows Holdings in Invesco Variable Rate Preferred ETF (NYSEARCA:VRP)

Wells Fargo & Company MN raised its position in Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) by 5.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,471,466 shares of the company’s stock after purchasing an additional 134,133 shares during the period. Wells Fargo & Company MN’s holdings in Invesco Variable Rate Preferred ETF were worth $59,785,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Beta Wealth Group Inc. increased its stake in shares of Invesco Variable Rate Preferred ETF by 0.8% in the fourth quarter. Beta Wealth Group Inc. now owns 49,330 shares of the company’s stock worth $1,193,000 after buying an additional 413 shares during the last quarter. Addison Capital Co increased its position in shares of 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 worth $2,067,000 after purchasing an additional 485 shares during the last quarter. Corient Private Wealth LLC raised its stake in shares of Invesco Variable Rate Preferred ETF by 1.7% in the 4th quarter. Corient Private Wealth LLC now owns 32,667 shares of the company’s stock valued at $790,000 after purchasing an additional 553 shares in the last quarter. Endowment Wealth Management Inc. lifted its position in shares of Invesco Variable Rate Preferred ETF by 7.6% during the fourth quarter. Endowment Wealth Management Inc. now owns 11,120 shares of the company’s stock worth $269,000 after purchasing an additional 788 shares during the last quarter. Finally, Kovack Advisors Inc. grew its stake in Invesco Variable Rate Preferred ETF by 8.6% in the fourth quarter. Kovack Advisors Inc. now owns 11,235 shares of the company’s stock worth $272,000 after purchasing an additional 885 shares in the last quarter.

Invesco Variable Rate Preferred ETF Stock Performance

Shares of NYSEARCA VRP opened at $23.32 on Wednesday. The stock’s 50 day moving average price is $24.27 and its two-hundred day moving average price is $24.35. Invesco Variable Rate Preferred ETF has a 52-week low of $23.14 and a 52-week high of $24.67.

Invesco Variable Rate Preferred ETF Cuts Dividend

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

Invesco Variable Rate Preferred ETF 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.