Investment Research & Advisory Group Inc. Makes New $225,000 Investment in Invesco Variable Rate Preferred ETF (NYSEARCA:VRP)

Investment Research & Advisory Group Inc. bought a new stake in Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) in the 3rd quarter, HoldingsChannel reports. The firm bought 9,194 shares of the company’s stock, valued at approximately $225,000.

A number of other hedge funds and other institutional investors have also modified their holdings of VRP. BNP Paribas Financial Markets raised its position in shares of Invesco Variable Rate Preferred ETF by 75,025.0% during the 1st quarter. BNP Paribas Financial Markets now owns 3,005 shares of the company’s stock valued at $71,000 after buying an additional 3,001 shares during the period. Key Financial Inc grew its holdings in shares of Invesco Variable Rate Preferred ETF by 59.6% during the 2nd quarter. Key Financial Inc now owns 3,370 shares of the company’s stock worth $81,000 after purchasing an additional 1,259 shares during the period. ORG Partners LLC purchased a new position in shares of Invesco Variable Rate Preferred ETF during the 2nd quarter worth $140,000. MGB Wealth Management LLC increased its position in shares of Invesco Variable Rate Preferred ETF by 19.6% during the 1st quarter. MGB Wealth Management LLC now owns 7,937 shares of the company’s stock worth $189,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Kovack Advisors Inc. purchased a new stake in Invesco Variable Rate Preferred ETF in the 1st quarter valued at about $205,000.

Invesco Variable Rate Preferred ETF Stock Up 0.6 %

Shares of VRP stock opened at $24.45 on Friday. Invesco Variable Rate Preferred ETF has a 1-year low of $21.60 and a 1-year high of $24.67. The company has a 50-day moving average of $24.39 and a two-hundred day moving average of $24.04.

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.