Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) Reaches New 52-Week High – What’s Next?

Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) hit a new 52-week high during trading on Tuesday . The stock traded as high as $25.04 and last traded at $25.04, with a volume of 359 shares. The stock had previously closed at $24.34.

Invesco Variable Rate Preferred ETF Stock Up 0.1 %

The firm’s 50 day moving average is $24.39 and its 200 day moving average is $24.28.

Institutional Trading of Invesco Variable Rate Preferred ETF

Large investors have recently added to or reduced their stakes in the stock. Benjamin Edwards Inc. boosted its stake in Invesco Variable Rate Preferred ETF by 814.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 536,706 shares of the company’s stock worth $13,128,000 after purchasing an additional 478,001 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Invesco Variable Rate Preferred ETF in the 2nd quarter worth about $6,121,000. Ocean Park Asset Management LLC raised its position in Invesco Variable Rate Preferred ETF by 76.1% in the 2nd quarter. Ocean Park Asset Management LLC now owns 395,900 shares of the company’s stock worth $9,486,000 after buying an additional 171,100 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Invesco Variable Rate Preferred ETF by 18.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 969,444 shares of the company’s stock worth $23,228,000 after buying an additional 152,981 shares during the last quarter. Finally, HighTower Advisors LLC raised its position in Invesco Variable Rate Preferred ETF by 16.9% in the 3rd quarter. HighTower Advisors LLC now owns 854,864 shares of the company’s stock worth $20,909,000 after buying an additional 123,324 shares during the last quarter.

About Invesco Variable Rate Preferred ETF

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.