Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) Hits New 1-Year High at $24.29

Invesco Variable Rate Preferred ETF (NYSEARCA:VRP)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $24.29 and last traded at $24.28, with a volume of 24152 shares trading hands. The stock had previously closed at $24.25.

Invesco Variable Rate Preferred ETF Stock Performance

The firm’s 50-day simple moving average is $24.05 and its 200 day simple moving average is $23.85.

Institutional Investors Weigh In On Invesco Variable Rate Preferred ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VRP. Truist Financial Corp increased its stake in Invesco Variable Rate Preferred ETF by 23.0% in the fourth quarter. Truist Financial Corp now owns 17,944 shares of the company’s stock valued at $414,000 after purchasing an additional 3,350 shares in the last quarter. Private Advisor Group LLC increased its position in shares of Invesco Variable Rate Preferred ETF by 150.5% in the 4th quarter. Private Advisor Group LLC now owns 151,893 shares of the company’s stock valued at $3,506,000 after buying an additional 91,246 shares in the last quarter. Principal Securities Inc. acquired a new stake in Invesco Variable Rate Preferred ETF during the 4th quarter worth $1,986,000. Envestnet Portfolio Solutions Inc. lifted its holdings in Invesco Variable Rate Preferred ETF by 55.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 29,349 shares of the company’s stock worth $677,000 after acquiring an additional 10,412 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new position in Invesco Variable Rate Preferred ETF in the fourth quarter valued at about $2,914,000.

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.