Global X Interest Rate Hedge ETF (NYSEARCA:RATE) Stock Price Down 0.6% – Here’s Why

Global X Interest Rate Hedge ETF (NYSEARCA:RATE)’s share price fell 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 mid-day trading, a decline of 67% from the average session volume of 1,483 shares. The stock had previously closed at $17.42.

Global X Interest Rate Hedge ETF Stock Performance

The company has a market capitalization of $2.42 million, a P/E ratio of -69.26 and a beta of 2.19. The stock has a fifty day moving average of $17.32 and a 200 day moving average of $17.32.

Hedge Funds 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 purchased a new position in Global X Interest Rate Hedge ETF (NYSEARCA:RATE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 17,146 shares of the company’s stock, valued at approximately $303,000. Jane Street Group LLC owned about 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.

Global X Interest Rate Hedge ETF Company Profile

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.