Simplify Interest Rate Hedge ETF (NYSEARCA:PFIX) Shares Up 3.1% – Still a Buy?

Simplify Interest Rate Hedge ETF (NYSEARCA:PFIX)’s share price rose 3.1% on Thursday . The company traded as high as $42.35 and last traded at $42.35. Approximately 120,484 shares changed hands during mid-day trading, an increase of 28% from the average daily volume of 94,252 shares. The stock had previously closed at $41.07.

Simplify Interest Rate Hedge ETF Trading Up 3.1 %

The firm’s 50-day moving average price is $41.60 and its 200 day moving average price is $46.15.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Palisade Asset Management LLC bought a new position in Simplify Interest Rate Hedge ETF during the 1st quarter valued at $51,000. Comerica Bank lifted its position in shares of Simplify Interest Rate Hedge ETF by 41.6% during the first quarter. Comerica Bank now owns 1,361 shares of the company’s stock valued at $61,000 after purchasing an additional 400 shares in the last quarter. S.A. Mason LLC boosted its holdings in Simplify Interest Rate Hedge ETF by 25.6% during the first quarter. S.A. Mason LLC now owns 1,605 shares of the company’s stock worth $72,000 after purchasing an additional 327 shares during the last quarter. Fortis Capital Advisors LLC bought a new stake in Simplify Interest Rate Hedge ETF in the 2nd quarter worth about $276,000. Finally, Sanctuary Advisors LLC purchased a new stake in Simplify Interest Rate Hedge ETF in the 2nd quarter valued at about $300,000.

About Simplify Interest Rate Hedge ETF

The Simplify Interest Rate Hedge ETF (PFIX) is an exchange-traded fund that mostly invests in spreads alternatives. The fund is actively managed to provide a hedge against a sharp increase in long-term interest rates. The fund holds OTC interest rate options, US Treasurys, and US Treasury Inflation-Protected Securities (TIPS).