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

Global X Interest Rate Hedge ETF (NYSEARCA:RATE) shares fell 0.6% during mid-day trading on Wednesday . The company traded as low as $17.32 and last traded at $17.3150. 494 shares changed hands during trading, a decline of 67% from the average session volume of 1,483 shares. The stock had previously closed at $17.42.

Global X Interest Rate Hedge ETF Stock Down 0.6%

The business has a 50-day simple moving average of $17.32 and a two-hundred day simple moving average of $17.32. The stock has a market capitalization of $2.42 million, a P/E ratio of -69.26 and a beta of 2.19.

Hedge Funds Weigh In On 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 position in Global X Interest Rate Hedge ETF (NYSEARCA:RATE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 Securities and Exchange Commission (SEC). 47.31% of the stock is owned by institutional investors.

Global X Interest Rate Hedge ETF Company Profile

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.