Synergy Asset Management LLC Invests $7.55 Million in Invesco Variable Rate Preferred ETF (NYSEARCA:VRP)

Synergy Asset Management LLC acquired a new stake in Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 317,802 shares of the company’s stock, valued at approximately $7,554,000. Invesco Variable Rate Preferred ETF accounts for 1.3% of Synergy Asset Management LLC’s holdings, making the stock its 19th biggest holding. Synergy Asset Management LLC owned 0.47% of Invesco Variable Rate Preferred ETF at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in VRP. Sound Income Strategies LLC bought a new position in Invesco Variable Rate Preferred ETF in the fourth quarter worth $69,000. Vima LLC bought a new position in shares of Invesco Variable Rate Preferred ETF in the fourth quarter valued at approximately $78,000. Fifth Third Bancorp boosted its holdings in shares of Invesco Variable Rate Preferred ETF by 99.3% in the 4th quarter. Fifth Third Bancorp now owns 8,700 shares of the company’s stock worth $201,000 after acquiring an additional 4,335 shares in the last quarter. Commerce Bank acquired a new stake in Invesco Variable Rate Preferred ETF during the 4th quarter valued at $205,000. Finally, Cantor Fitzgerald Investment Advisors L.P. acquired a new position in Invesco Variable Rate Preferred ETF in the fourth quarter worth $210,000.

Invesco Variable Rate Preferred ETF Price Performance

Shares of VRP stock traded up $0.18 during trading hours on Tuesday, hitting $23.96. 215,417 shares of the company’s stock were exchanged, compared to its average volume of 377,312. The stock’s 50-day moving average is $23.83 and its 200-day moving average is $23.58. Invesco Variable Rate Preferred ETF has a 52 week low of $21.60 and a 52 week high of $24.08.

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.