Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) Reaches New 1-Year Low – Here’s What Happened

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

Invesco Variable Rate Preferred ETF Trading Down 1.0 %

The firm has a fifty 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. Shareholders of record on Monday, March 24th were paid a dividend of $0.1031 per share. The ex-dividend date of this dividend was Monday, March 24th.

Hedge Funds Weigh In On Invesco Variable Rate Preferred ETF

Large investors have recently modified their holdings of the company. Bank of America Corp DE boosted its position in Invesco Variable Rate Preferred ETF by 6.5% during the 4th quarter. Bank of America Corp DE now owns 4,199,502 shares of the company’s stock worth $101,586,000 after purchasing an additional 256,999 shares during the period. Wells Fargo & Company MN boosted its position in shares of Invesco Variable Rate Preferred ETF by 5.7% in the fourth quarter. Wells Fargo & Company MN now owns 2,471,466 shares of the company’s stock worth $59,785,000 after buying an additional 134,133 shares during the period. LPL Financial LLC grew its stake in shares of Invesco Variable Rate Preferred ETF by 47.7% in the fourth quarter. LPL Financial LLC now owns 2,098,397 shares of the company’s stock valued at $50,760,000 after buying an additional 677,991 shares in the last quarter. Stephens Inc. AR raised its holdings in shares of Invesco Variable Rate Preferred ETF by 1.3% during the 4th quarter. Stephens Inc. AR now owns 1,431,932 shares of the company’s stock valued at $34,638,000 after buying an additional 17,757 shares during the period. Finally, Advisors Capital Management LLC lifted its position in Invesco Variable Rate Preferred ETF by 2.8% during the 4th quarter. Advisors Capital Management LLC now owns 1,023,617 shares of the company’s stock worth $24,761,000 after acquiring an additional 27,632 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.