ProShares Equities For Rising Rates ETF (NASDAQ:EQRR) Stock Falls 2.4% – Time to Sell?

Shares of ProShares Equities For Rising Rates ETF (NASDAQ:EQRR) fell 2.4% during trading on Monday. The stock traded as low as $82.72 and last traded at $82.8040. Approximately 6,921 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 16,577 shares. The stock had previously closed at $84.85.

ProShares Equities For Rising Rates ETF Stock Performance

The company has a market capitalization of $39.75 million, a PE ratio of 16.51 and a beta of 0.94. The company’s 50-day simple moving average is $86.19 and its 200-day simple moving average is $77.89.

Hedge Funds Weigh In On ProShares Equities For Rising Rates ETF

Several institutional investors have recently added to or reduced their stakes in EQRR. Citadel Advisors LLC acquired a new stake in ProShares Equities For Rising Rates ETF during the 2nd quarter worth approximately $1,373,000. Independent Financial Group LLC purchased a new stake in shares of ProShares Equities For Rising Rates ETF during the first quarter worth approximately $531,000. Envestnet Asset Management Inc. purchased a new stake in shares of ProShares Equities For Rising Rates ETF during the second quarter worth approximately $520,000. Money Concepts Capital Corp acquired a new stake in shares of ProShares Equities For Rising Rates ETF during the first quarter worth $292,000. Finally, Griffin Asset Management Inc. acquired a new stake in shares of ProShares Equities For Rising Rates ETF during the first quarter worth $256,000.

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.