Short Interest in ProShares Equities For Rising Rates ETF (NASDAQ:EQRR) Drops By 38.8%

ProShares Equities For Rising Rates ETF (NASDAQ:EQRR) saw a significant drop in short interest in May. As of May 15th, there was short interest totaling 3,018 shares, a drop of 38.8% from the April 30th total of 4,935 shares. Based on an average daily trading volume, of 22,324 shares, the short-interest ratio is presently 0.1 days. Currently, 0.5% of the company’s stock are short sold.

ProShares Equities For Rising Rates ETF Stock Performance

Shares of EQRR traded down $0.86 during trading hours on Wednesday, hitting $81.29. 1,122 shares of the company were exchanged, compared to its average volume of 13,023. The company has a market cap of $47.96 million, a PE ratio of 16.51 and a beta of 0.91. The firm’s 50 day moving average is $73.83 and its 200-day moving average is $68.83. ProShares Equities For Rising Rates ETF has a 52 week low of $57.76 and a 52 week high of $82.38.

ProShares Equities For Rising Rates ETF Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Wednesday, March 25th were issued a $0.2334 dividend. This is an increase from ProShares Equities For Rising Rates ETF’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, March 25th. This represents a $0.93 annualized dividend and a yield of 1.1%.

Hedge Funds Weigh In On ProShares Equities For Rising Rates ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. acquired a new position in ProShares Equities For Rising Rates ETF in the 1st quarter valued at $25,000. International Assets Investment Management LLC acquired a new position in ProShares Equities For Rising Rates ETF during the 4th quarter worth $31,000. Steward Partners Investment Advisory LLC bought a new stake in ProShares Equities For Rising Rates ETF during the fourth quarter valued at about $79,000. Griffin Asset Management Inc. acquired a new stake in shares of ProShares Equities For Rising Rates ETF in the first quarter valued at about $256,000. Finally, Royal Bank of Canada grew its position in shares of ProShares Equities For Rising Rates ETF by 17.2% in the fourth quarter. Royal Bank of Canada now owns 4,098 shares of the company’s stock valued at $264,000 after purchasing an additional 600 shares during the last quarter.

About ProShares Equities For Rising Rates ETF

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.