Invesco Variable Rate Investment Grade ETF (NASDAQ:VRIG) Sees Significant Growth in Short Interest

Invesco Variable Rate Investment Grade ETF (NASDAQ:VRIG) was the recipient of a significant increase in short interest in September. As of September 30th, there was short interest totaling 447,001 shares, an increase of 305.7% from the September 15th total of 110,173 shares. Currently, 0.6% of the shares of the stock are short sold. Based on an average trading volume of 654,343 shares, the days-to-cover ratio is currently 0.7 days.

Invesco Variable Rate Investment Grade ETF Price Performance

VRIG stock opened at $25.06 on Tuesday. Invesco Variable Rate Investment Grade ETF has a 12 month low of $25.00 and a 12 month high of $25.18. The firm has a 50-day moving average price of $25.07 and a 200-day moving average price of $25.07.

Invesco Variable Rate Investment Grade ETF Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, September 25th. Investors of record on Monday, September 21st were given a dividend of $0.0912 per share. The ex-dividend date was Monday, September 21st. This represents a $1.09 dividend on an annualized basis and a yield of 4.4%. This is a positive change from Invesco Variable Rate Investment Grade ETF’s previous monthly dividend of $0.0912.

Hedge Funds Weigh In On Invesco Variable Rate Investment Grade ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in VRIG. Bank of New York Mellon Corp boosted its position in Invesco Variable Rate Investment Grade ETF by 79.6% in the first quarter. Bank of New York Mellon Corp now owns 1,781,949 shares of the company’s stock valued at $44,611,000 after buying an additional 789,612 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Invesco Variable Rate Investment Grade ETF by 24.9% during the first quarter. Cetera Investment Advisers now owns 543,151 shares of the company’s stock worth $13,598,000 after buying an additional 108,220 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its stake in shares of Invesco Variable Rate Investment Grade ETF by 5.1% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 536,030 shares of the company’s stock valued at $13,438,000 after acquiring an additional 26,109 shares during the last quarter. Avior Wealth Management LLC lifted its stake in shares of Invesco Variable Rate Investment Grade ETF by 5,268.3% in the 3rd quarter. Avior Wealth Management LLC now owns 360,804 shares of the company’s stock valued at $9,029,000 after acquiring an additional 354,083 shares during the last quarter. Finally, Vectors Research Management LLC lifted its stake in shares of Invesco Variable Rate Investment Grade ETF by 0.7% in the 1st quarter. Vectors Research Management LLC now owns 344,900 shares of the company’s stock valued at $8,635,000 after acquiring an additional 2,391 shares during the last quarter.

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.