ProShares Equities For Rising Rates ETF (NASDAQ:EQRR) Stock Price Down 2.4% – Should You Sell?

Shares of ProShares Equities For Rising Rates ETF (NASDAQ:EQRR) dropped 2.4% during mid-day trading on Thursday . The stock traded as low as $66.75 and last traded at $66.7140. Approximately 58 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 286 shares. The stock had previously closed at $68.32.

ProShares Equities For Rising Rates ETF Price Performance

The firm has a market cap of $11.66 million, a price-to-earnings ratio of 16.51 and a beta of 1.09. The business has a fifty day simple moving average of $65.80 and a 200 day simple moving average of $63.50.

ProShares Equities For Rising Rates ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 24th were paid a dividend of $0.219 per share. This represents a $0.88 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Wednesday, December 24th.

Hedge Funds Weigh In On ProShares Equities For Rising Rates ETF

Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC boosted its position in ProShares Equities For Rising Rates ETF by 223.1% during the fourth quarter. SG Americas Securities LLC now owns 23,978 shares of the company’s stock worth $1,543,000 after acquiring an additional 16,556 shares during the last quarter. Royal Bank of Canada grew its position in shares of ProShares Equities For Rising Rates ETF by 324.3% in the first quarter. Royal Bank of Canada now owns 9,686 shares of the company’s stock valued at $572,000 after purchasing an additional 7,403 shares in the last quarter. Susquehanna International Group LLP grew its position in shares of ProShares Equities For Rising Rates ETF by 63.1% in the third quarter. Susquehanna International Group LLP now owns 7,834 shares of the company’s stock valued at $495,000 after purchasing an additional 3,032 shares in the last quarter. Citadel Advisors LLC increased its holdings in shares of ProShares Equities For Rising Rates ETF by 11.9% in the third quarter. Citadel Advisors LLC now owns 7,826 shares of the company’s stock valued at $494,000 after purchasing an additional 831 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in ProShares Equities For Rising Rates ETF during the fourth quarter worth approximately $31,000.

ProShares Equities For Rising Rates ETF Company Profile

The ProShares Equities for Rising Rates ETF (EQRR) is an exchange-traded fund that mostly invests in large cap equity. The fund tracks an index of 50 US-listed large-cap stocks that are anticipated to perform favorably during periods of rising interest rates. EQRR was launched on Jul 24, 2017 and is managed by ProShares.