LPL Financial LLC Raises Holdings in Invesco Variable Rate Preferred ETF (NYSEARCA:VRP)

LPL Financial LLC grew its holdings in Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) by 47.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,098,397 shares of the company’s stock after purchasing an additional 677,991 shares during the period. LPL Financial LLC’s holdings in Invesco Variable Rate Preferred ETF were worth $50,760,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of VRP. Boyd Watterson Asset Management LLC OH purchased a new stake in shares of Invesco Variable Rate Preferred ETF during the fourth quarter valued at $27,000. Harbour Investments Inc. grew its stake in shares of Invesco Variable Rate Preferred ETF by 238.7% in the fourth quarter. Harbour Investments Inc. now owns 2,838 shares of the company’s stock worth $69,000 after acquiring an additional 2,000 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Invesco Variable Rate Preferred ETF by 130.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,794 shares of the company’s stock valued at $116,000 after purchasing an additional 2,714 shares during the last quarter. Zhang Financial LLC bought a new position in Invesco Variable Rate Preferred ETF during the fourth quarter valued at approximately $202,000. Finally, Partners Wealth Management LLC purchased a new stake in Invesco Variable Rate Preferred ETF in the fourth quarter worth approximately $212,000.

Invesco Variable Rate Preferred ETF Stock Up 0.2 %

NYSEARCA:VRP opened at $24.27 on Friday. The company has a 50 day simple moving average of $24.35 and a two-hundred day simple moving average of $24.39. Invesco Variable Rate Preferred ETF has a 12 month low of $23.40 and a 12 month high of $24.67.

Invesco Variable Rate Preferred ETF Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 24th will be given a dividend of $0.1031 per share. The ex-dividend date of this dividend is Monday, March 24th.

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.