Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) Sees Large Volume Increase – Time to Buy?

Shares of Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) saw unusually-strong trading volume on Thursday . Approximately 879,456 shares changed hands during trading, an increase of 64% from the previous session’s volume of 534,697 shares.The stock last traded at $24.34 and had previously closed at $24.30.

Invesco Variable Rate Preferred ETF Price Performance

The firm’s 50 day moving average is $24.33 and its 200-day moving average is $24.30.

Hedge Funds Weigh In On Invesco Variable Rate Preferred ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VRP. Coastline Trust Co acquired a new position in Invesco Variable Rate Preferred ETF in the 3rd quarter valued at $142,000. Zhang Financial LLC acquired a new stake in shares of Invesco Variable Rate Preferred ETF in the fourth quarter valued at about $202,000. Dynamic Advisor Solutions LLC bought a new position in shares of Invesco Variable Rate Preferred ETF in the third quarter worth about $213,000. Proficio Capital Partners LLC lifted its position in shares of Invesco Variable Rate Preferred ETF by 4.8% during the 3rd quarter. Proficio Capital Partners LLC now owns 9,030 shares of the company’s stock worth $221,000 after purchasing an additional 415 shares during the last quarter. Finally, Stratos Wealth Partners LTD. bought a new stake in Invesco Variable Rate Preferred ETF during the 4th quarter valued at approximately $219,000.

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.