ProShares High Yield-Interest Rate Hedged ETF (BATS:HYHG) Trading Down 1.1% – Time to Sell?

ProShares High Yield-Interest Rate Hedged ETF (BATS:HYHG)’s share price dropped 1.1% on Thursday . The company traded as low as $64.88 and last traded at $64.4950. Approximately 8,539 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 14,547 shares. The stock had previously closed at $65.24.

ProShares High Yield-Interest Rate Hedged ETF Trading Down 1.1%

The stock has a fifty day moving average price of $64.57 and a 200-day moving average price of $64.58.

ProShares High Yield-Interest Rate Hedged ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 6th. Shareholders of record on Monday, February 2nd will be issued a $0.3468 dividend. The ex-dividend date is Monday, February 2nd. This represents a c) dividend on an annualized basis and a yield of 6.5%.

Institutional Investors Weigh In On ProShares High Yield-Interest Rate Hedged ETF

Several hedge funds and other institutional investors have recently modified their holdings of HYHG. Geneos Wealth Management Inc. grew its position in shares of ProShares High Yield-Interest Rate Hedged ETF by 7.0% in the 4th quarter. Geneos Wealth Management Inc. now owns 10,047 shares of the company’s stock worth $647,000 after acquiring an additional 658 shares in the last quarter. Howard Capital Management Inc. lifted its stake in ProShares High Yield-Interest Rate Hedged ETF by 9.1% during the fourth quarter. Howard Capital Management Inc. now owns 18,802 shares of the company’s stock worth $1,211,000 after purchasing an additional 1,561 shares during the last quarter. ASL Financial LLC acquired a new position in ProShares High Yield-Interest Rate Hedged ETF in the fourth quarter worth $226,000. CoreCap Advisors LLC increased its stake in ProShares High Yield-Interest Rate Hedged ETF by 14.8% during the fourth quarter. CoreCap Advisors LLC now owns 3,969 shares of the company’s stock valued at $256,000 after purchasing an additional 511 shares during the last quarter. Finally, Tactive Advisors LLC increased its stake in ProShares High Yield-Interest Rate Hedged ETF by 9.1% during the fourth quarter. Tactive Advisors LLC now owns 17,915 shares of the company’s stock valued at $1,154,000 after purchasing an additional 1,490 shares during the last quarter.

About ProShares High Yield-Interest Rate Hedged ETF

The ProShares High Yield—Interest Rate Hedged (HYHG) is an exchange-traded fund that mostly invests in high yield fixed income. The fund tracks a market-value-weighted index that goes long high-yield USD debt from US and Canadian issuers and shorts a duration-matched combination of 2-, 5- and 10-year US Treasurys. HYHG was launched on May 21, 2013 and is managed by ProShares.