Short Interest in Invesco Variable Rate Investment Grade ETF (NASDAQ:VRIG) Drops By 78.1%

Invesco Variable Rate Investment Grade ETF (NASDAQ:VRIG) was the recipient of a large decrease in short interest in the month of May. As of May 29th, there was short interest totaling 90,789 shares, a decrease of 78.1% from the May 14th total of 414,353 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily volume of 377,259 shares, the short-interest ratio is presently 0.2 days.

Invesco Variable Rate Investment Grade ETF Price Performance

Shares of VRIG traded up $0.02 during mid-day trading on Friday, hitting $25.11. 240,322 shares of the company’s stock were exchanged, compared to its average volume of 423,345. Invesco Variable Rate Investment Grade ETF has a fifty-two week low of $25.00 and a fifty-two week high of $25.18. The business’s 50 day moving average is $25.07 and its two-hundred day moving average is $25.09.

Invesco Variable Rate Investment Grade ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 18th were issued a dividend of $0.0937 per share. This is a boost from Invesco Variable Rate Investment Grade ETF’s previous monthly dividend of $0.09. This represents a c) annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Monday, May 18th.

Institutional Trading of Invesco Variable Rate Investment Grade ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in VRIG. NewEdge Advisors LLC grew its position in shares of Invesco Variable Rate Investment Grade ETF by 546.0% during the 1st quarter. NewEdge Advisors LLC now owns 146,925 shares of the company’s stock valued at $3,678,000 after buying an additional 124,182 shares during the last quarter. Arkadios Wealth Advisors lifted its position in Invesco Variable Rate Investment Grade ETF by 193.7% in the 1st quarter. Arkadios Wealth Advisors now owns 294,700 shares of the company’s stock worth $7,378,000 after buying an additional 194,356 shares in the last quarter. Royal Bank of Canada lifted its position in Invesco Variable Rate Investment Grade ETF by 1.5% in the 1st quarter. Royal Bank of Canada now owns 88,278 shares of the company’s stock worth $2,210,000 after buying an additional 1,344 shares in the last quarter. Matrix Private Capital Group LLC purchased a new stake in Invesco Variable Rate Investment Grade ETF in the 1st quarter worth approximately $145,000. Finally, Cetera Investment Advisers increased its holdings in shares of Invesco Variable Rate Investment Grade ETF by 24.9% during the 1st quarter. Cetera Investment Advisers now owns 543,151 shares of the company’s stock valued at $13,598,000 after acquiring an additional 108,220 shares during the last quarter.

About Invesco Variable Rate Investment Grade ETF

The Invesco Variable Rate Investment Grade ETF (VRIG) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively-managed fund that primarily invests in USD-denominated investment-grade floating-rate securities, but can hold up to 20% in non-investment-grade securities. VRIG was launched on Sep 22, 2016 and is managed by Invesco.