Invesco Variable Rate Investment Grade ETF (NASDAQ:VRIG) Sees Large Increase in Short Interest

Invesco Variable Rate Investment Grade ETF (NASDAQ:VRIG) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 365,200 shares, a growth of 237.8% from the October 15th total of 108,100 shares. Based on an average daily volume of 258,400 shares, the days-to-cover ratio is currently 1.4 days.

Invesco Variable Rate Investment Grade ETF Price Performance

Shares of VRIG traded up $0.02 during midday trading on Tuesday, reaching $25.16. 19,467 shares of the stock were exchanged, compared to its average volume of 292,903. Invesco Variable Rate Investment Grade ETF has a 52 week low of $24.85 and a 52 week high of $25.24. The company’s 50 day moving average is $25.12 and its two-hundred day moving average is $25.13.

Invesco Variable Rate Investment Grade ETF Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 21st were given a $0.12 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.44 annualized dividend and a dividend yield of 5.72%.

Hedge Funds Weigh In On Invesco Variable Rate Investment Grade ETF

Institutional investors have recently bought and sold shares of the business. LPL Financial LLC boosted its position in Invesco Variable Rate Investment Grade ETF by 22.5% during the 2nd quarter. LPL Financial LLC now owns 2,698,211 shares of the company’s stock valued at $67,833,000 after acquiring an additional 495,070 shares in the last quarter. Goldstone Financial Group LLC purchased a new stake in shares of Invesco Variable Rate Investment Grade ETF during the third quarter valued at about $10,015,000. Total Clarity Wealth Management Inc. grew its position in shares of Invesco Variable Rate Investment Grade ETF by 102.2% in the 2nd quarter. Total Clarity Wealth Management Inc. now owns 483,064 shares of the company’s stock worth $12,144,000 after buying an additional 244,202 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of Invesco Variable Rate Investment Grade ETF by 220.0% during the 1st quarter. Cetera Investment Advisers now owns 232,168 shares of the company’s stock worth $5,825,000 after acquiring an additional 159,607 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Invesco Variable Rate Investment Grade ETF by 31.5% in the second quarter. Envestnet Asset Management Inc. now owns 516,623 shares of the company’s stock valued at $12,988,000 after acquiring an additional 123,707 shares in the last quarter.

About Invesco Variable Rate Investment Grade ETF

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.