Envestnet Asset Management Inc. Sells 62,453 Shares of Invesco Variable Rate Preferred ETF (NYSEARCA:VRP)

Envestnet Asset Management Inc. lowered its stake in shares of Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) by 5.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,156,558 shares of the company’s stock after selling 62,453 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Invesco Variable Rate Preferred ETF were worth $27,977,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of VRP. Boyd Watterson Asset Management LLC OH bought a new stake in Invesco Variable Rate Preferred ETF in the 4th quarter worth approximately $27,000. Mechanics Financial Corp purchased a new position in shares of Invesco Variable Rate Preferred ETF in the fourth quarter valued at $27,000. Harbour Investments Inc. increased its position in Invesco Variable Rate Preferred ETF by 238.7% in the fourth quarter. Harbour Investments Inc. now owns 2,838 shares of the company’s stock worth $69,000 after purchasing an additional 2,000 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Invesco Variable Rate Preferred ETF by 130.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,794 shares of the company’s stock valued at $116,000 after purchasing an additional 2,714 shares in the last quarter. Finally, Zhang Financial LLC bought a new position in Invesco Variable Rate Preferred ETF during the fourth quarter valued at $202,000.

Invesco Variable Rate Preferred ETF Price Performance

Shares of NYSEARCA:VRP opened at $23.47 on Friday. The firm has a fifty day simple moving average of $24.21 and a two-hundred day simple moving average of $24.33. Invesco Variable Rate Preferred ETF has a 52 week low of $23.03 and a 52 week high of $24.67.

Invesco Variable Rate Preferred ETF Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 24th were given a $0.1031 dividend. The ex-dividend date of this dividend was Monday, March 24th.

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.