Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) Sees Large Volume Increase – Should You Buy?

Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) shares saw unusually-strong trading volume on Thursday . 754,538 shares traded hands during trading, an increase of 21% from the previous session’s volume of 621,093 shares.The stock last traded at $24.1350 and had previously closed at $24.05.

Invesco Variable Rate Preferred ETF Stock Up 0.3%

The stock has a 50 day moving average of $24.18 and a two-hundred day moving average of $24.25.

Hedge Funds Weigh In On Invesco Variable Rate Preferred ETF

A number of institutional investors have recently modified their holdings of the company. Engineers Gate Manager LP grew its stake in Invesco Variable Rate Preferred ETF by 16.9% in the 2nd quarter. Engineers Gate Manager LP now owns 37,328 shares of the company’s stock valued at $907,000 after buying an additional 5,403 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in Invesco Variable Rate Preferred ETF by 34.2% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 63,218 shares of the company’s stock worth $1,537,000 after acquiring an additional 16,125 shares during the last quarter. Baird Financial Group Inc. boosted its holdings in Invesco Variable Rate Preferred ETF by 1.6% during the second quarter. Baird Financial Group Inc. now owns 235,821 shares of the company’s stock valued at $5,733,000 after acquiring an additional 3,810 shares during the period. Corient Private Wealth LP bought a new stake in Invesco Variable Rate Preferred ETF during the second quarter valued at about $599,000. Finally, Ameritas Advisory Services LLC grew its position in shares of Invesco Variable Rate Preferred ETF by 67.0% in the second quarter. Ameritas Advisory Services LLC now owns 90,252 shares of the company’s stock valued at $2,194,000 after purchasing an additional 36,221 shares during the last quarter.

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.