Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) Sees Unusually-High Trading Volume – Still a Buy?

Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) saw an uptick in trading volume on Wednesday . 2,397,609 shares changed hands during trading, an increase of 311% from the previous session’s volume of 583,950 shares.The stock last traded at $24.38 and had previously closed at $24.38.

Invesco Variable Rate Preferred ETF Trading Down 0.0 %

The company’s 50-day simple moving average is $24.31 and its 200 day simple moving average is $24.37.

Hedge Funds Weigh In On Invesco Variable Rate Preferred ETF

A number of institutional investors have recently bought and sold shares of VRP. Stratos Wealth Partners LTD. purchased a new stake in shares of Invesco Variable Rate Preferred ETF during the fourth quarter worth approximately $219,000. Ashton Thomas Private Wealth LLC raised its position in Invesco Variable Rate Preferred ETF by 2.7% in the third quarter. Ashton Thomas Private Wealth LLC now owns 442,678 shares of the company’s stock valued at $10,828,000 after purchasing an additional 11,612 shares during the period. New Millennium Group LLC acquired a new position in shares of Invesco Variable Rate Preferred ETF in the 3rd quarter valued at $1,634,000. Estate Counselors LLC grew its holdings in shares of Invesco Variable Rate Preferred ETF by 0.3% during the 3rd quarter. Estate Counselors LLC now owns 332,505 shares of the company’s stock worth $8,133,000 after purchasing an additional 1,110 shares during the period. Finally, Insigneo Advisory Services LLC increased its position in shares of Invesco Variable Rate Preferred ETF by 6.3% during the 3rd quarter. Insigneo Advisory Services LLC now owns 21,821 shares of the company’s stock worth $534,000 after purchasing an additional 1,293 shares during the last quarter.

Invesco Variable Rate Preferred ETF Company Profile

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.