Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) Hits New 52-Week Low – Here’s What Happened

Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $23.14 and last traded at $23.48, with a volume of 470356 shares traded. The stock had previously closed at $23.60.

Invesco Variable Rate Preferred ETF Stock Up 1.5 %

The business has a 50 day moving average of $24.27 and a two-hundred day moving average of $24.35.

Invesco Variable Rate Preferred ETF Cuts Dividend

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

Institutional Investors Weigh In On Invesco Variable Rate Preferred ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. Boyd Watterson Asset Management LLC OH bought a new stake in shares of Invesco Variable Rate Preferred ETF in the fourth quarter valued at approximately $27,000. Mechanics Financial Corp acquired a new position in Invesco Variable Rate Preferred ETF in the 4th quarter valued at $27,000. Harbour Investments Inc. lifted its position in shares of Invesco Variable Rate Preferred ETF by 238.7% during the 4th quarter. Harbour Investments Inc. now owns 2,838 shares of the company’s stock valued at $69,000 after acquiring an additional 2,000 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Invesco Variable Rate Preferred ETF by 130.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,794 shares of the company’s stock worth $116,000 after purchasing an additional 2,714 shares in the last quarter. Finally, Ancora Advisors LLC increased its position in shares of Invesco Variable Rate Preferred ETF by 36.5% in the fourth quarter. Ancora Advisors LLC now owns 5,643 shares of the company’s stock worth $137,000 after purchasing an additional 1,508 shares during the period.

Invesco Variable Rate Preferred ETF Company Profile

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.