Short Interest in Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) Decreases By 65.7%
by Renee Jackson · The Cerbat GemInvesco Variable Rate Preferred ETF (NYSEARCA:VRP – Get Free Report) saw a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 156,418 shares, a drop of 65.7% from the February 26th total of 456,082 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average daily volume of 539,565 shares, the days-to-cover ratio is currently 0.3 days.
Invesco Variable Rate Preferred ETF Price Performance
Shares of VRP stock traded down $0.15 during mid-day trading on Friday, hitting $23.73. The stock had a trading volume of 808,533 shares, compared to its average volume of 540,740. Invesco Variable Rate Preferred ETF has a 12-month low of $23.03 and a 12-month high of $24.93. The firm’s 50-day moving average is $24.37 and its two-hundred day moving average is $24.50.
Invesco Variable Rate Preferred ETF Announces Dividend
The firm also recently disclosed a monthly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 23rd were paid a $0.1019 dividend. The ex-dividend date of this dividend was Monday, February 23rd. This represents a c) dividend on an annualized basis and a yield of 5.2%.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in VRP. International Assets Investment Management LLC purchased a new stake in shares of Invesco Variable Rate Preferred ETF in the 4th quarter worth approximately $51,000. Private Trust Co. NA increased its holdings in Invesco Variable Rate Preferred ETF by 165.2% during the fourth quarter. Private Trust Co. NA now owns 2,209 shares of the company’s stock valued at $54,000 after buying an additional 1,376 shares during the period. LFA Lugano Financial Advisors SA raised its stake in Invesco Variable Rate Preferred ETF by 136.8% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 5,067 shares of the company’s stock worth $123,000 after buying an additional 2,927 shares in the last quarter. Luken Investment Analytics LLC bought a new position in Invesco Variable Rate Preferred ETF in the fourth quarter worth approximately $135,000. Finally, Blueline Advisors LLC purchased a new stake in Invesco Variable Rate Preferred ETF during the fourth quarter worth $150,000.
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.