Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) Sees Strong Trading Volume – Should You Buy?

Invesco Variable Rate Preferred ETF (NYSEARCA:VRP – Get Free Report) saw unusually-strong trading volume on Monday . 1,477,978 shares changed hands during trading, an increase of 132% from the previous session’s volume of 636,227 shares.The stock last traded at $24.19 and had previously closed at $24.14.

Invesco Variable Rate Preferred ETF Stock Up 0.2%

The business has a 50 day moving average price of $24.32 and a 200 day moving average price of $24.33.

Hedge Funds Weigh In On Invesco Variable Rate Preferred ETF

Institutional investors have recently made changes to their positions in the company. Insight Wealth Strategies LLC purchased a new stake in Invesco Variable Rate Preferred ETF during the second quarter worth $22,654,000. Spectrum Asset Management Inc. increased its position in shares of Invesco Variable Rate Preferred ETF by 798.8% in the fourth quarter. Spectrum Asset Management Inc. now owns 564,181 shares of the company’s stock valued at $13,727,000 after buying an additional 501,409 shares in the last quarter. Bank of America Corp DE raised its position in Invesco Variable Rate Preferred ETF by 6.2% during the third quarter. Bank of America Corp DE now owns 8,491,380 shares of the company’s stock worth $209,737,000 after acquiring an additional 497,911 shares during the period. Matthew Goff Investment Advisor LLC purchased a new position in Invesco Variable Rate Preferred ETF in the 1st quarter valued at about $9,708,000. Finally, LPL Financial LLC boosted its stake in shares of Invesco Variable Rate Preferred ETF by 17.8% in the fourth quarter. LPL Financial LLC now owns 2,652,479 shares of the company’s stock worth $64,535,000 after acquiring an additional 399,914 shares during the last quarter.

About Invesco Variable Rate Preferred ETF

(Get Free Report)

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.

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