Invesco Floating Rate Municipal Income ETF (NYSEARCA:PVI) Trading Up 0% – Here’s What Happened

Invesco Floating Rate Municipal Income ETF (NYSEARCA:PVI) shares were up 0% during mid-day trading on Monday . The stock traded as high as $24.75 and last traded at $24.75. Approximately 481 shares were traded during trading, a decline of 92% from the average daily volume of 6,108 shares. The stock had previously closed at $24.74.

Invesco Floating Rate Municipal Income ETF Price Performance

The stock has a 50 day moving average of $24.82 and a 200 day moving average of $24.84.

Invesco Floating Rate Municipal Income ETF Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Monday, February 23rd will be given a $0.0343 dividend. The ex-dividend date is Monday, February 23rd. This represents a c) annualized dividend and a dividend yield of 1.7%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC lifted its position in shares of Invesco Floating Rate Municipal Income ETF by 46.0% during the 2nd quarter. Foundations Investment Advisors LLC now owns 18,131 shares of the company’s stock worth $449,000 after buying an additional 5,714 shares during the last quarter. Flagship Harbor Advisors LLC bought a new position in Invesco Floating Rate Municipal Income ETF in the second quarter valued at about $1,583,000. Osaic Holdings Inc. raised its stake in Invesco Floating Rate Municipal Income ETF by 200.4% during the fourth quarter. Osaic Holdings Inc. now owns 22,482 shares of the company’s stock worth $560,000 after acquiring an additional 14,998 shares in the last quarter. Wealthcare Capital Management LLC bought a new position in shares of Invesco Floating Rate Municipal Income ETF in the fourth quarter worth about $283,000. Finally, Susquehanna International Group LLP bought a new stake in shares of Invesco Floating Rate Municipal Income ETF during the 3rd quarter valued at approximately $474,000.

About Invesco Floating Rate Municipal Income ETF

The Invesco VRDO Tax-Free ETF (PVI) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund tracks a market-value-weighted index of VRDOs issued by US municipalities. PVI was launched on Nov 15, 2007 and is managed by Invesco.