Global X Interest Rate Hedge ETF (NYSEARCA:RATE) Shares Down 0.6% – Should You Sell?

Global X Interest Rate Hedge ETF (NYSEARCA:RATE) was down 0.6% during mid-day trading on Thursday . The company traded as low as $17.32 and last traded at $17.3150. Approximately 494 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 1,907 shares. The stock had previously closed at $17.42.

Global X Interest Rate Hedge ETF Stock Performance

The company’s 50 day moving average price is $17.32 and its 200 day moving average price is $17.32. The company has a market cap of $2.42 million, a price-to-earnings ratio of -69.26 and a beta of 2.19.

Institutional Trading of Global X Interest Rate Hedge ETF

An institutional investor recently bought a new position in Global X Interest Rate Hedge ETF stock. Jane Street Group LLC acquired a new stake in Global X Interest Rate Hedge ETF (NYSEARCA:RATE) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 17,146 shares of the company’s stock, valued at approximately $303,000. Jane Street Group LLC owned approximately 12.25% of Global X Interest Rate Hedge ETF as of its most recent filing with the SEC. 47.31% of the stock is currently owned by hedge funds and other institutional investors.

About Global X Interest Rate Hedge ETF

The Global X Interest Rate Hedge ETF (RATE) is an exchange-traded fund that mostly invests in spreads alternatives. The fund is an actively managed fund, using over-the-counter swaptions, which seeks to provide a hedge against sharp increases in long-term US interest rates. The fund is also expected to benefit during periods of market stress when interest rate volatility rises. RATE was launched on Jul 5, 2022 and is managed by Global X.