New Millennium Group LLC Has $2.48 Million Position in Invesco Variable Rate Preferred ETF (NYSEARCA:VRP)

New Millennium Group LLC boosted its holdings in shares of Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) by 53.4% in the fourth quarter, Holdings Channel reports. The firm owned 102,502 shares of the company’s stock after purchasing an additional 35,688 shares during the quarter. Invesco Variable Rate Preferred ETF comprises about 1.5% of New Millennium Group LLC’s portfolio, making the stock its 20th biggest holding. New Millennium Group LLC’s holdings in Invesco Variable Rate Preferred ETF were worth $2,480,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in VRP. Proficio Capital Partners LLC lifted its holdings in Invesco Variable Rate Preferred ETF by 4.8% during the 3rd quarter. Proficio Capital Partners LLC now owns 9,030 shares of the company’s stock valued at $221,000 after purchasing an additional 415 shares during the last quarter. Truist Financial Corp boosted its holdings in shares of Invesco Variable Rate Preferred ETF by 2.4% in the 2nd quarter. Truist Financial Corp now owns 17,776 shares of the company’s stock worth $426,000 after acquiring an additional 421 shares in the last quarter. MFA Wealth Advisors LLC grew its position in Invesco Variable Rate Preferred ETF by 2.0% during the 3rd quarter. MFA Wealth Advisors LLC now owns 22,976 shares of the company’s stock worth $562,000 after acquiring an additional 461 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in Invesco Variable Rate Preferred ETF by 2.0% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 24,188 shares of the company’s stock valued at $580,000 after purchasing an additional 481 shares in the last quarter. Finally, Burke & Herbert Bank & Trust Co. raised its position in Invesco Variable Rate Preferred ETF by 0.8% in the 3rd quarter. Burke & Herbert Bank & Trust Co. now owns 59,965 shares of the company’s stock valued at $1,467,000 after purchasing an additional 485 shares during the last quarter.

Invesco Variable Rate Preferred ETF Stock Performance

Shares of VRP stock opened at $24.32 on Friday. The stock’s fifty day moving average is $24.33 and its 200-day moving average is $24.30. Invesco Variable Rate Preferred ETF has a 52 week low of $23.32 and a 52 week high of $24.67.

Invesco Variable Rate Preferred ETF 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.