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

Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) shares saw unusually-high trading volume on Thursday . Approximately 699,346 shares changed hands during trading, an increase of 8% from the previous session’s volume of 648,449 shares.The stock last traded at $24.40 and had previously closed at $24.34.

Invesco Variable Rate Preferred ETF Price Performance

The company has a 50-day simple moving average of $24.33 and a 200-day simple moving average of $24.35.

Hedge Funds Weigh In On Invesco Variable Rate Preferred ETF

A number of large investors have recently made changes to their positions in VRP. JPMorgan Chase & Co. increased its holdings in Invesco Variable Rate Preferred ETF by 47.8% in the third quarter. JPMorgan Chase & Co. now owns 1,737,992 shares of the company’s stock valued at $42,928,000 after buying an additional 561,811 shares in the last quarter. Calton & Associates Inc. purchased a new position in Invesco Variable Rate Preferred ETF in the 4th quarter valued at approximately $597,000. Bristlecone Value Partners LLC purchased a new position in Invesco Variable Rate Preferred ETF in the 4th quarter valued at approximately $908,000. Matthew Goff Investment Advisor LLC acquired a new position in Invesco Variable Rate Preferred ETF during the first quarter worth $9,708,000. Finally, Blue Water Asset Management acquired a new position in Invesco Variable Rate Preferred ETF during the fourth quarter worth $6,790,000.

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.