Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) Reaches New 1-Year High at $24.58

Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) shares reached a new 52-week high on Wednesday . The stock traded as high as $24.58 and last traded at $24.56, with a volume of 134189 shares traded. The stock had previously closed at $24.50.

Invesco Variable Rate Preferred ETF Stock Performance

The firm’s 50 day moving average is $24.11 and its two-hundred day moving average is $23.89.

Institutional Investors Weigh In On Invesco Variable Rate Preferred ETF

A number of hedge funds have recently added to or reduced their stakes in the stock. Synergy Asset Management LLC bought a new position in Invesco Variable Rate Preferred ETF in the 1st quarter worth about $7,554,000. Commonwealth Equity Services LLC increased its position in Invesco Variable Rate Preferred ETF by 161.8% in the 1st quarter. Commonwealth Equity Services LLC now owns 449,304 shares of the company’s stock valued at $10,680,000 after acquiring an additional 277,685 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Invesco Variable Rate Preferred ETF during the second quarter valued at $6,121,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Invesco Variable Rate Preferred ETF by 111.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 456,791 shares of the company’s stock valued at $10,858,000 after acquiring an additional 240,901 shares during the period. Finally, Ocean Park Asset Management LLC increased its position in shares of Invesco Variable Rate Preferred ETF by 76.1% during the 2nd quarter. Ocean Park Asset Management LLC now owns 395,900 shares of the company’s stock valued at $9,486,000 after purchasing an additional 171,100 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.