ProShares High Yield-Interest Rate Hedged ETF (BATS:HYHG) Trading Down 1.1% – Here’s Why

ProShares High Yield-Interest Rate Hedged ETF (BATS:HYHG) traded down 1.1% during trading on Thursday . The stock traded as low as $64.88 and last traded at $64.4950. 8,539 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 14,547 shares. The stock had previously closed at $65.24.

ProShares High Yield-Interest Rate Hedged ETF Stock Performance

The stock has a 50 day moving average of $64.57 and a 200 day moving average of $64.58.

ProShares High Yield-Interest Rate Hedged ETF Cuts Dividend

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

Hedge Funds Weigh In On ProShares High Yield-Interest Rate Hedged ETF

A number of hedge funds and other institutional investors have recently modified their holdings of HYHG. Geneos Wealth Management Inc. increased its position in shares of ProShares High Yield-Interest Rate Hedged ETF by 7.0% in the fourth 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. boosted its position 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 valued at $1,211,000 after purchasing an additional 1,561 shares during the last quarter. ASL Financial LLC bought a new stake in shares of ProShares High Yield-Interest Rate Hedged ETF in the 4th quarter valued at approximately $226,000. CoreCap Advisors LLC raised its holdings in shares of ProShares High Yield-Interest Rate Hedged ETF by 14.8% during the 4th quarter. CoreCap Advisors LLC now owns 3,969 shares of the company’s stock valued at $256,000 after purchasing an additional 511 shares in the last quarter. Finally, Tactive Advisors LLC raised its holdings 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 buying an additional 1,490 shares in 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.