Invesco Variable Rate Investment Grade ETF (NASDAQ:VRIG) Short Interest Down 78.1% in May

Invesco Variable Rate Investment Grade ETF (NASDAQ:VRIG) was the recipient of a large decline in short interest in the month of May. As of May 29th, there was short interest totaling 90,789 shares, a decline of 78.1% from the May 14th total of 414,353 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 377,259 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Invesco Ltd. grew its holdings in shares of Invesco Variable Rate Investment Grade ETF by 26.5% in the fourth quarter. Invesco Ltd. now owns 13,338,402 shares of the company’s stock valued at $334,794,000 after purchasing an additional 2,790,286 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Invesco Variable Rate Investment Grade ETF by 79.6% during the 1st quarter. Bank of New York Mellon Corp now owns 1,781,949 shares of the company’s stock worth $44,611,000 after buying an additional 789,612 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its position in Invesco Variable Rate Investment Grade ETF by 2,463.6% in the 3rd quarter. Wealthcare Advisory Partners LLC now owns 480,464 shares of the company’s stock valued at $12,060,000 after buying an additional 461,722 shares during the period. Auour Investments LLC purchased a new position in Invesco Variable Rate Investment Grade ETF in the 1st quarter valued at approximately $7,360,000. Finally, Morgan Stanley grew its stake in shares of Invesco Variable Rate Investment Grade ETF by 10.0% in the fourth quarter. Morgan Stanley now owns 2,246,537 shares of the company’s stock worth $56,388,000 after acquiring an additional 205,031 shares in the last quarter.

Invesco Variable Rate Investment Grade ETF Price Performance

VRIG opened at $25.09 on Wednesday. The stock’s 50-day moving average price is $25.06 and its 200 day moving average price is $25.09. Invesco Variable Rate Investment Grade ETF has a 12-month low of $25.00 and a 12-month high of $25.18.

Invesco Variable Rate Investment Grade ETF Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 18th were given a dividend of $0.0937 per share. This is a boost from Invesco Variable Rate Investment Grade ETF’s previous monthly dividend of $0.09. This represents a c) annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, May 18th.

Invesco Variable Rate Investment Grade ETF Company Profile

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. VRIG was launched on Sep 22, 2016 and is managed by Invesco.