Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) Sees Significant Growth in Short Interest

Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) was the recipient of a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 977,645 shares, an increase of 517.9% from the July 15th total of 158,210 shares. Approximately 0.8% of the shares of the stock are short sold. Based on an average daily volume of 534,781 shares, the short-interest ratio is presently 1.8 days.

Invesco Variable Rate Preferred ETF Stock Performance

Shares of VRP stock remained flat at $24.20 during trading hours on Wednesday. The stock had a trading volume of 74,854 shares, compared to its average volume of 634,072. Invesco Variable Rate Preferred ETF has a 52 week low of $23.71 and a 52 week high of $24.93. The stock’s 50 day moving average is $24.30 and its two-hundred day moving average is $24.32.

Institutional Trading of Invesco Variable Rate Preferred ETF

A number of large investors have recently bought and sold shares of VRP. Bank of America Corp DE boosted its stake in shares of Invesco Variable Rate Preferred ETF by 6.2% in the 3rd quarter. Bank of America Corp DE now owns 8,491,380 shares of the company’s stock valued at $209,737,000 after purchasing an additional 497,911 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Invesco Variable Rate Preferred ETF by 11.5% during the 4th quarter. Wells Fargo & Company MN now owns 3,508,606 shares of the company’s stock worth $85,364,000 after purchasing an additional 360,543 shares in the last quarter. LPL Financial LLC lifted its holdings in Invesco Variable Rate Preferred ETF by 17.8% during the 4th quarter. LPL Financial LLC now owns 2,652,479 shares of the company’s stock valued at $64,535,000 after purchasing an additional 399,914 shares during the last quarter. UBS Group AG grew its stake in Invesco Variable Rate Preferred ETF by 1.0% during the fourth quarter. UBS Group AG now owns 2,175,176 shares of the company’s stock worth $52,922,000 after buying an additional 21,479 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Invesco Variable Rate Preferred ETF by 12.6% during the fourth quarter. JPMorgan Chase & Co. now owns 1,957,799 shares of the company’s stock worth $47,633,000 after buying an additional 219,807 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.