Invesco Variable Rate Investment Grade ETF (NASDAQ:VRIG) Hits New 52-Week Low – Time to Sell?

Shares of Invesco Variable Rate Investment Grade ETF (NASDAQ:VRIG) hit a new 52-week low on Monday. The company traded as low as $24.98 and last traded at $24.9850, with a volume of 39,643 shares. The stock had previously closed at $25.08.

Invesco Variable Rate Investment Grade ETF Price Performance

The company’s fifty day moving average is $25.07 and its two-hundred day moving average is $25.07.

Invesco Variable Rate Investment Grade ETF Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Monday, October 19th will be issued a $0.0938 dividend. The ex-dividend date of this dividend is Monday, October 19th. This is a positive change from Invesco Variable Rate Investment Grade ETF’s previous monthly dividend of $0.0912. This represents a $1.13 dividend on an annualized basis and a yield of 4.5%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cottage Street Advisors LLC acquired a new stake in Invesco Variable Rate Investment Grade ETF in the 3rd quarter worth about $1,389,000. IFP Advisors Inc acquired a new position in Invesco Variable Rate Investment Grade ETF during the third quarter worth about $6,967,000. Legacy Wealth Partners LLC purchased a new stake in Invesco Variable Rate Investment Grade ETF during the 3rd quarter valued at about $359,000. KMG Fiduciary Partners LLC purchased a new stake in Invesco Variable Rate Investment Grade ETF during the 3rd quarter valued at about $5,400,000. Finally, Courier Capital LLC grew its stake in Invesco Variable Rate Investment Grade ETF by 77.7% during the 3rd quarter. Courier Capital LLC now owns 477,268 shares of the company’s stock valued at $11,944,000 after acquiring an additional 208,661 shares in the last quarter.

Invesco Variable Rate Investment Grade ETF Company Profile

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.