Invesco Variable Rate Investment Grade ETF (NASDAQ:VRIG) Sees Significant Increase in Short Interest

Invesco Variable Rate Investment Grade ETF (NASDAQ:VRIG) was the target of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 1,260,000 shares, a growth of 856.0% from the March 31st total of 131,800 shares. Based on an average daily volume of 653,700 shares, the short-interest ratio is currently 1.9 days. Currently, 2.4% of the shares of the stock are short sold.

Hedge Funds Weigh In On Invesco Variable Rate Investment Grade ETF

Several large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its holdings in shares of Invesco Variable Rate Investment Grade ETF by 19.9% in the fourth quarter. Bank of New York Mellon Corp now owns 393,752 shares of the company’s stock worth $9,889,000 after buying an additional 65,230 shares during the period. Truist Financial Corp purchased a new stake in shares of Invesco Variable Rate Investment Grade ETF during the fourth quarter valued at $208,000. Wells Fargo & Company MN grew its holdings in shares of Invesco Variable Rate Investment Grade ETF by 10.9% in the fourth quarter. Wells Fargo & Company MN now owns 436,741 shares of the company’s stock worth $10,969,000 after purchasing an additional 43,011 shares during the last quarter. Avantax Advisory Services Inc. bought a new position in shares of Invesco Variable Rate Investment Grade ETF in the fourth quarter worth about $440,000. Finally, LPL Financial LLC increased its stake in Invesco Variable Rate Investment Grade ETF by 28.7% in the 4th quarter. LPL Financial LLC now owns 3,288,316 shares of the company’s stock worth $82,586,000 after buying an additional 732,516 shares during the period.

Invesco Variable Rate Investment Grade ETF Stock Up 0.0 %

NASDAQ:VRIG opened at $24.96 on Friday. The stock’s 50 day simple moving average is $25.06 and its two-hundred day simple moving average is $25.10. Invesco Variable Rate Investment Grade ETF has a 1 year low of $24.79 and a 1 year high of $25.24.

Invesco Variable Rate Investment Grade ETF Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, April 25th. Investors of record on Monday, April 21st were given a $0.0928 dividend. The ex-dividend date was Monday, April 21st.

About Invesco Variable Rate Investment Grade ETF

The Invesco Variable Rate Investment Grade ETF (VRIG) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively-managed fund that primarily invests in USD-denominated investment-grade floating-rate securities, but can hold up to 20% in non-investment-grade securities.