Invesco Variable Rate Investment Grade ETF (NASDAQ:VRIG) Sees Significant Increase in Short Interest

Invesco Variable Rate Investment Grade ETF (NASDAQ:VRIG) was the recipient of a significant increase in short interest in March. As of March 15th, there was short interest totalling 386,700 shares, an increase of 81.5% from the February 28th total of 213,100 shares. Approximately 0.8% of the company’s stock are sold short. Based on an average daily trading volume, of 440,900 shares, the short-interest ratio is currently 0.9 days.

Invesco Variable Rate Investment Grade ETF Stock Performance

NASDAQ:VRIG opened at $25.07 on Friday. The company’s 50 day moving average price is $25.12 and its 200-day moving average price is $25.12. Invesco Variable Rate Investment Grade ETF has a 52 week low of $25.05 and a 52 week high of $25.24.

Invesco Variable Rate Investment Grade ETF Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 24th were issued a $0.0986 dividend. The ex-dividend date of this dividend was Monday, March 24th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp increased its holdings in Invesco Variable Rate Investment Grade ETF by 19.9% in the 4th quarter. Bank of New York Mellon Corp now owns 393,752 shares of the company’s stock worth $9,889,000 after buying an additional 65,230 shares in the last quarter. Truist Financial Corp bought a new stake in shares of Invesco Variable Rate Investment Grade ETF in the fourth quarter worth approximately $208,000. HighTower Advisors LLC raised its holdings in shares of Invesco Variable Rate Investment Grade ETF by 12.4% during the third quarter. HighTower Advisors LLC now owns 580,746 shares of the company’s stock valued at $14,576,000 after purchasing an additional 63,859 shares during the last quarter. Resurgent Financial Advisors LLC lifted its position in Invesco Variable Rate Investment Grade ETF by 2.6% during the third quarter. Resurgent Financial Advisors LLC now owns 21,192 shares of the company’s stock valued at $532,000 after purchasing an additional 534 shares during the period. Finally, Benjamin Edwards Inc. purchased a new stake in Invesco Variable Rate Investment Grade ETF in the third quarter worth approximately $1,639,000.

About Invesco Variable Rate Investment Grade ETF

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.