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

Global X Interest Rate Hedge ETF (NYSEARCA:RATE) fell 0.6% on Friday . The company traded as low as $17.32 and last traded at $17.3150. 494 shares were traded during trading, a decline of 74% from the average session volume of 1,907 shares. The stock had previously closed at $17.42.

Global X Interest Rate Hedge ETF Stock Down 0.6%

The company has a market cap of $2.42 million, a PE ratio of -69.26 and a beta of 2.19. The firm has a 50 day simple moving average of $17.32 and a 200-day simple moving average of $17.46.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Global X Interest Rate Hedge ETF stock. Jane Street Group LLC purchased a new position in Global X Interest Rate Hedge ETF (NYSEARCA:RATE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 17,146 shares of the company’s stock, valued at approximately $303,000. Jane Street Group LLC owned about 12.25% of Global X Interest Rate Hedge ETF at the end of the most recent quarter. Institutional investors own 47.31% of the company’s stock.

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.