Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) Short Interest Update

Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) saw a large drop in short interest in the month of January. As of January 30th, there was short interest totaling 167,618 shares, a drop of 31.0% from the January 15th total of 242,817 shares. Based on an average daily volume of 610,352 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.2% of the shares of the company are sold short. Currently, 0.2% of the shares of the company are sold short. Based on an average daily volume of 610,352 shares, the days-to-cover ratio is presently 0.3 days.

Invesco Variable Rate Preferred ETF Stock Performance

NYSEARCA:VRP traded up $0.02 during mid-day trading on Friday, hitting $24.55. 240,340 shares of the company traded hands, compared to its average volume of 607,375. The stock’s fifty day moving average price is $24.42 and its 200-day moving average price is $24.55. Invesco Variable Rate Preferred ETF has a one year low of $23.03 and a one year high of $24.93.

Invesco Variable Rate Preferred ETF Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Friday, January 23rd. Investors of record on Tuesday, January 20th were issued a $0.1019 dividend. This represents a c) annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend was Tuesday, January 20th.

Hedge Funds Weigh In On Invesco Variable Rate Preferred ETF

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in Invesco Variable Rate Preferred ETF by 47.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,737,992 shares of the company’s stock worth $42,928,000 after purchasing an additional 561,811 shares in the last quarter. Spectrum Asset Management Inc. increased its holdings in shares of Invesco Variable Rate Preferred ETF by 798.8% in the fourth quarter. Spectrum Asset Management Inc. now owns 564,181 shares of the company’s stock worth $13,727,000 after purchasing an additional 501,409 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Invesco Variable Rate Preferred ETF by 6.2% in the third quarter. Bank of America Corp DE now owns 8,491,380 shares of the company’s stock worth $209,737,000 after buying an additional 497,911 shares in the last quarter. LPL Financial LLC boosted its stake in Invesco Variable Rate Preferred ETF by 17.8% during the fourth quarter. LPL Financial LLC now owns 2,652,479 shares of the company’s stock valued at $64,535,000 after buying an additional 399,914 shares during the last quarter. Finally, Cordoba Advisory Partners LLC purchased a new position in Invesco Variable Rate Preferred ETF during the 4th quarter valued at approximately $9,066,000.

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.