Invesco Variable Rate Investment Grade ETF (NASDAQ:VRIG) Short Interest Up 81.5% in March

Invesco Variable Rate Investment Grade ETF (NASDAQ:VRIG) was the target of a large increase in short interest in the month of 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. Based on an average daily volume of 440,900 shares, the days-to-cover ratio is presently 0.9 days. Approximately 0.8% of the shares of the company are sold short.

Invesco Variable Rate Investment Grade ETF Stock Performance

Shares of NASDAQ:VRIG opened at $25.07 on Monday. The firm’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 twelve month low of $25.05 and a twelve month high of $25.24.

Invesco Variable Rate Investment Grade ETF Cuts Dividend

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

Hedge Funds Weigh In On Invesco Variable Rate Investment Grade ETF

Several institutional investors and hedge funds have recently bought and sold shares of VRIG. Bank of New York Mellon Corp raised its stake in shares of Invesco Variable Rate Investment Grade ETF by 19.9% in the fourth 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 during the period. Truist Financial Corp bought a new stake in Invesco Variable Rate Investment Grade ETF during the 4th quarter worth approximately $208,000. HighTower Advisors LLC lifted its holdings in 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 in the last quarter. Avantax Advisory Services Inc. bought a new position in shares of Invesco Variable Rate Investment Grade ETF in the fourth quarter worth approximately $440,000. Finally, Resurgent Financial Advisors LLC increased its stake in shares of Invesco Variable Rate Investment Grade ETF by 2.6% in the third quarter. Resurgent Financial Advisors LLC now owns 21,192 shares of the company’s stock worth $532,000 after purchasing an additional 534 shares in the last quarter.

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.