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

Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) saw strong trading volume on Wednesday . 2,397,609 shares changed hands during trading, an increase of 311% from the previous session’s volume of 583,950 shares.The stock last traded at $24.38 and had previously closed at $24.38.

Invesco Variable Rate Preferred ETF Price Performance

The company has a 50-day moving average of $24.31 and a 200-day moving average of $24.37.

Institutional Investors Weigh In On Invesco Variable Rate Preferred ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of VRP. Beta Wealth Group Inc. raised its position in shares of Invesco Variable Rate Preferred ETF by 0.8% during the 4th quarter. Beta Wealth Group Inc. now owns 49,330 shares of the company’s stock worth $1,193,000 after purchasing an additional 413 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in Invesco Variable Rate Preferred ETF by 4.8% in the third quarter. Proficio Capital Partners LLC now owns 9,030 shares of the company’s stock valued at $221,000 after purchasing an additional 415 shares during the period. Addison Capital Co raised its position in shares of Invesco Variable Rate Preferred ETF by 0.6% in the 4th quarter. Addison Capital Co now owns 85,461 shares of the company’s stock worth $2,067,000 after buying an additional 485 shares during the period. Oder Investment Management LLC lifted its stake in shares of Invesco Variable Rate Preferred ETF by 0.5% in the 4th quarter. Oder Investment Management LLC now owns 96,602 shares of the company’s stock valued at $2,337,000 after purchasing an additional 498 shares in the last quarter. Finally, Corient Private Wealth LLC grew its stake in Invesco Variable Rate Preferred ETF by 1.7% during the fourth quarter. Corient Private Wealth LLC now owns 32,667 shares of the company’s stock worth $790,000 after buying an additional 553 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.