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

Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) was the recipient of a large increase in short interest during the month of April. As of April 30th, there was short interest totaling 417,644 shares, an increase of 196.0% from the April 15th total of 141,115 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average trading volume of 1,065,790 shares, the short-interest ratio is presently 0.4 days.

Invesco Variable Rate Preferred ETF Stock Down 0.2%

VRP traded down $0.06 on Friday, hitting $24.31. 370,394 shares of the company traded hands, compared to its average volume of 684,581. The company has a 50 day moving average of $24.24 and a 200-day moving average of $24.39. Invesco Variable Rate Preferred ETF has a 12-month low of $23.71 and a 12-month high of $24.93.

Hedge Funds Weigh In On Invesco Variable Rate Preferred ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its position in Invesco Variable Rate Preferred ETF by 6.2% during the 3rd quarter. Bank of America Corp DE now owns 8,491,380 shares of the company’s stock worth $209,737,000 after purchasing an additional 497,911 shares during the period. Wells Fargo & Company MN increased its position in 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 during the period. LPL Financial LLC increased its position 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 worth $64,535,000 after purchasing an additional 399,914 shares during the period. UBS Group AG increased its position in Invesco Variable Rate Preferred ETF by 1.0% during the 4th quarter. UBS Group AG now owns 2,175,176 shares of the company’s stock worth $52,922,000 after purchasing an additional 21,479 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Invesco Variable Rate Preferred ETF by 12.6% during the 4th quarter. JPMorgan Chase & Co. now owns 1,957,799 shares of the company’s stock worth $47,633,000 after purchasing an additional 219,807 shares during the period.

Invesco Variable Rate Preferred ETF Company 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.