Invesco Floating Rate Municipal Income ETF (NYSEARCA:PVI) Trading 0% Higher – Still a Buy?

Invesco Floating Rate Municipal Income ETF (NYSEARCA:PVI) shares were up 0% on Monday . The company traded as high as $24.89 and last traded at $24.82. Approximately 7,487 shares changed hands during trading, a decline of 6% from the average daily volume of 7,995 shares. The stock had previously closed at $24.81.

Invesco Floating Rate Municipal Income ETF Price Performance

The company’s 50-day simple moving average is $24.83 and its 200-day simple moving average is $24.84.

Invesco Floating Rate Municipal Income ETF Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, January 23rd. Investors of record on Tuesday, January 20th were issued a $0.0573 dividend. The ex-dividend date was Tuesday, January 20th. This is a positive change from Invesco Floating Rate Municipal Income ETF’s previous monthly dividend of $0.05. This represents a c) dividend on an annualized basis and a yield of 2.8%.

Institutional Investors Weigh In On Invesco Floating Rate Municipal Income ETF

A number of institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new stake in shares of Invesco Floating Rate Municipal Income ETF in the second quarter valued at about $34,000. Wealthcare Capital Management LLC bought a new stake in Invesco Floating Rate Municipal Income ETF in the fourth quarter valued at approximately $283,000. Foundations Investment Advisors LLC boosted its holdings in Invesco Floating Rate Municipal Income ETF by 46.0% in the second quarter. Foundations Investment Advisors LLC now owns 18,131 shares of the company’s stock valued at $449,000 after acquiring an additional 5,714 shares during the last quarter. Avior Wealth Management LLC raised its holdings in Invesco Floating Rate Municipal Income ETF by 4.6% during the 4th quarter. Avior Wealth Management LLC now owns 18,329 shares of the company’s stock worth $457,000 after purchasing an additional 798 shares during the last quarter. Finally, Susquehanna International Group LLP bought a new position in Invesco Floating Rate Municipal Income ETF during the 3rd quarter worth approximately $474,000.

About Invesco Floating Rate Municipal Income ETF

The Invesco VRDO Tax-Free ETF (PVI) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund tracks a market-value-weighted index of VRDOs issued by US municipalities. PVI was launched on Nov 15, 2007 and is managed by Invesco.