Invesco Variable Rate Preferred ETF $VRP is Spectrum Asset Management Inc.’s 3rd Largest Position

Spectrum Asset Management Inc. lessened its holdings in shares of Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) by 81.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,122 shares of the company’s stock after selling 458,059 shares during the period. Invesco Variable Rate Preferred ETF accounts for approximately 5.1% of Spectrum Asset Management Inc.’s holdings, making the stock its 3rd biggest position. Spectrum Asset Management Inc. owned 0.10% of Invesco Variable Rate Preferred ETF worth $2,545,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC boosted its stake in Invesco Variable Rate Preferred ETF by 51.4% during the first quarter. International Assets Investment Management LLC now owns 3,180 shares of the company’s stock worth $77,000 after acquiring an additional 1,080 shares in the last quarter. Diversify Wealth Management LLC increased its stake in shares of Invesco Variable Rate Preferred ETF by 9.7% during the first quarter. Diversify Wealth Management LLC now owns 32,615 shares of the company’s stock valued at $792,000 after purchasing an additional 2,895 shares in the last quarter. Midwest Trust Co lifted its holdings in shares of Invesco Variable Rate Preferred ETF by 14.7% during the first quarter. Midwest Trust Co now owns 52,071 shares of the company’s stock valued at $1,249,000 after purchasing an additional 6,656 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Invesco Variable Rate Preferred ETF by 2,083.5% during the first quarter. Fifth Third Bancorp now owns 91,709 shares of the company’s stock valued at $2,199,000 after purchasing an additional 87,509 shares during the last quarter. Finally, Addison Capital Co boosted its position in shares of Invesco Variable Rate Preferred ETF by 35.5% in the 1st quarter. Addison Capital Co now owns 156,177 shares of the company’s stock worth $3,745,000 after purchasing an additional 40,886 shares in the last quarter.

Invesco Variable Rate Preferred ETF Price Performance

Shares of VRP opened at $24.36 on Tuesday. The business’s 50 day moving average price is $24.34 and its 200-day moving average price is $24.34. Invesco Variable Rate Preferred ETF has a 52 week low of $23.71 and a 52 week high of $24.93.

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.