Spectrum Asset Management Inc. Has $1.90 Million Stock Holdings in Invesco Variable Rate Preferred ETF (NYSEARCA:VRP)

Spectrum Asset Management Inc. reduced its stake in Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) by 90.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 78,451 shares of the company’s stock after selling 785,036 shares during the quarter. Invesco Variable Rate Preferred ETF comprises 3.5% of Spectrum Asset Management Inc.’s holdings, making the stock its 4th largest holding. Spectrum Asset Management Inc. owned about 0.09% of Invesco Variable Rate Preferred ETF worth $1,902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Addison Capital Co lifted its stake in Invesco Variable Rate Preferred ETF by 0.6% in the fourth 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 boosted its position in shares of Invesco Variable Rate Preferred ETF by 0.5% during the 4th quarter. Oder Investment Management LLC now owns 96,602 shares of the company’s stock worth $2,337,000 after purchasing an additional 498 shares in the last quarter. MFA Wealth Advisors LLC grew its stake in shares of Invesco Variable Rate Preferred ETF by 2.3% in the 1st quarter. MFA Wealth Advisors LLC now owns 23,721 shares of the company’s stock valued at $575,000 after buying an additional 523 shares during the period. Corient Private Wealth LLC raised its stake in 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 worth $790,000 after buying an additional 553 shares during the period. Finally, Endowment Wealth Management Inc. grew its stake in Invesco Variable Rate Preferred ETF by 7.6% in the fourth 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 during the period.

Invesco Variable Rate Preferred ETF Price Performance

NYSEARCA VRP opened at $24.53 on Thursday. The company has a fifty day simple moving average of $24.19 and a 200 day simple moving average of $24.20. Invesco Variable Rate Preferred ETF has a 12-month low of $23.03 and a 12-month high of $24.67.

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.