Mechanics Financial Corp Makes New Investment in Invesco Variable Rate Preferred ETF (NYSEARCA:VRP)

Mechanics Financial Corp purchased a new stake in Invesco Variable Rate Preferred ETF (NYSEARCA:VRP) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,100 shares of the company’s stock, valued at approximately $27,000.

Several other large investors also recently made changes to their positions in VRP. Beta Wealth Group Inc. grew its holdings in shares of Invesco Variable Rate Preferred ETF by 0.8% during the fourth quarter. Beta Wealth Group Inc. now owns 49,330 shares of the company’s stock worth $1,193,000 after buying an additional 413 shares in the last quarter. Addison Capital Co raised its holdings in shares of Invesco Variable Rate Preferred ETF by 0.6% in the fourth quarter. Addison Capital Co now owns 85,461 shares of the company’s stock valued at $2,067,000 after purchasing an additional 485 shares during the last quarter. Corient Private Wealth LLC lifted its position in shares of Invesco Variable Rate Preferred ETF by 1.7% in the fourth quarter. Corient Private Wealth LLC now owns 32,667 shares of the company’s stock worth $790,000 after purchasing an additional 553 shares in the last quarter. Endowment Wealth Management Inc. boosted its holdings in Invesco Variable Rate Preferred ETF by 7.6% during the fourth quarter. Endowment Wealth Management Inc. now owns 11,120 shares of the company’s stock worth $269,000 after purchasing an additional 788 shares during the last quarter. Finally, Kovack Advisors Inc. grew its position in Invesco Variable Rate Preferred ETF by 8.6% in the fourth quarter. Kovack Advisors Inc. now owns 11,235 shares of the company’s stock valued at $272,000 after purchasing an additional 885 shares in the last quarter.

Invesco Variable Rate Preferred ETF Trading Down 0.0 %

Shares of VRP stock opened at $24.26 on Friday. The firm’s fifty day moving average price is $24.35 and its two-hundred day moving average price is $24.39. Invesco Variable Rate Preferred ETF has a 1 year low of $23.40 and a 1 year high of $24.67.

Invesco Variable Rate Preferred ETF Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 24th were given a $0.1031 dividend. The ex-dividend date was Monday, March 24th.

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.