Invesco Variable Rate Investment Grade ETF (NASDAQ:VRIG) Sees Unusually-High Trading Volume – Still a Buy?

Invesco Variable Rate Investment Grade ETF (NASDAQ:VRIG) saw strong trading volume on Wednesday . 592,892 shares were traded during mid-day trading, an increase of 34% from the previous session’s volume of 441,995 shares.The stock last traded at $25.07 and had previously closed at $25.07.

Invesco Variable Rate Investment Grade ETF Price Performance

The firm has a 50-day simple moving average of $25.11 and a 200 day simple moving average of $25.11.

Invesco Variable Rate Investment Grade ETF Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, March 27th. Shareholders of record on Monday, March 23rd were given a $0.0931 dividend. The ex-dividend date of this dividend was Monday, March 23rd. This represents a c) annualized dividend and a yield of 4.5%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in VRIG. Jane Street Group LLC purchased a new position in Invesco Variable Rate Investment Grade ETF in the first quarter valued at about $1,235,000. JPMorgan Chase & Co. raised its position in Invesco Variable Rate Investment Grade ETF by 64.1% in the second quarter. JPMorgan Chase & Co. now owns 37,912 shares of the company’s stock valued at $950,000 after purchasing an additional 14,805 shares during the period. First Trust Advisors LP raised its position in Invesco Variable Rate Investment Grade ETF by 4.8% in the second quarter. First Trust Advisors LP now owns 117,855 shares of the company’s stock valued at $2,952,000 after purchasing an additional 5,351 shares during the period. Flow Traders U.S. LLC purchased a new position in Invesco Variable Rate Investment Grade ETF in the second quarter valued at about $545,000. Finally, NewEdge Advisors LLC raised its position in Invesco Variable Rate Investment Grade ETF by 6.4% in the second quarter. NewEdge Advisors LLC now owns 27,320 shares of the company’s stock valued at $684,000 after purchasing an additional 1,641 shares during the period.

Invesco Variable Rate Investment Grade ETF Company Profile

The Invesco Variable Rate Investment Grade ETF (VRIG) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively-managed fund that primarily invests in USD-denominated investment-grade floating-rate securities, but can hold up to 20% in non-investment-grade securities. VRIG was launched on Sep 22, 2016 and is managed by Invesco.