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

Global X Interest Rate Hedge ETF (NYSEARCA:RATE)’s stock price traded down 0.6% during trading on Thursday . The company traded as low as $17.32 and last traded at $17.3150. 494 shares changed hands 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 Performance

The stock has a market cap of $2.42 million, a PE ratio of -69.26 and a beta of 2.19. The company has a 50 day moving average of $17.32 and a two-hundred day moving average of $17.61.

Institutional Investors 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 bought a new stake in Global X Interest Rate Hedge ETF (NYSEARCA:RATE) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 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 at the end of the most recent reporting period. 47.31% of the stock is owned by 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.