Invesco Variable Rate Investment Grade ETF (NASDAQ:VRIG) Stock Short Interest Jumps 305.7%

Invesco Variable Rate Investment Grade ETF (NASDAQ:VRIG) was the target of a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 447,001 shares, an increase of 305.7% from the September 15th total of 110,173 shares. Approximately 0.6% of the shares of the company are short sold. Based on an average daily volume of 654,343 shares, the short-interest ratio is currently 0.7 days.

Invesco Variable Rate Investment Grade ETF Price Performance

NASDAQ:VRIG remained flat at $25.05 during midday trading on Friday. The company had a trading volume of 1,247,191 shares, compared to its average volume of 526,522. Invesco Variable Rate Investment Grade ETF has a twelve month low of $25.00 and a twelve month high of $25.18. The firm has a fifty day moving average of $25.07 and a two-hundred day moving average of $25.07.

Invesco Variable Rate Investment Grade ETF Increases Dividend

The business also recently announced a monthly dividend, which was paid on Friday, September 25th. Shareholders of record on Monday, September 21st were given a $0.0912 dividend. This is a boost from Invesco Variable Rate Investment Grade ETF’s previous monthly dividend of $0.0912. This represents a $1.09 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Monday, September 21st.

Institutional Investors Weigh In On Invesco Variable Rate Investment Grade ETF

A number of hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC acquired a new stake in shares of Invesco Variable Rate Investment Grade ETF in the 3rd quarter worth about $644,000. CoreCap Advisors LLC bought a new stake in Invesco Variable Rate Investment Grade ETF in the 3rd quarter valued at about $37,000. Fig Financial Advisory Services Inc. ADV bought a new stake in Invesco Variable Rate Investment Grade ETF in the 3rd quarter valued at about $4,883,000. Worth Asset Management LLC acquired a new position in Invesco Variable Rate Investment Grade ETF during the 3rd quarter valued at about $4,077,000. Finally, Community Bank & Trust Waco Texas boosted its stake in Invesco Variable Rate Investment Grade ETF by 81.2% during the 2nd quarter. Community Bank & Trust Waco Texas now owns 27,120 shares of the company’s stock valued at $680,000 after purchasing an additional 12,155 shares during the period.

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.