Global X Interest Rate Hedge ETF (NYSEARCA:RATE) Shares Down 0.6% – What’s Next?

Global X Interest Rate Hedge ETF (NYSEARCA:RATE) shares fell 0.6% during mid-day trading on Wednesday . The stock traded as low as $17.32 and last traded at $17.3150. 494 shares changed hands during mid-day 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 Trading Down 0.6%

The stock has a market cap of $2.42 million, a P/E ratio of -69.26 and a beta of 2.19. The firm has a 50-day simple moving average of $17.32 and a two-hundred day simple moving average of $17.33.

Institutional Trading of Global X Interest Rate Hedge ETF

A hedge fund recently bought a new stake in Global X Interest Rate Hedge ETF stock. Jane Street Group LLC bought a new position in shares of Global X Interest Rate Hedge ETF (NYSEARCA:RATE) during the 2nd quarter, according to its most recent disclosure 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 12.25% of Global X Interest Rate Hedge ETF at the end of the most recent quarter. 47.31% of the stock is owned by institutional investors and hedge funds.

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. RATE was launched on Jul 5, 2022 and is managed by Global X.