Global X Interest Rate Hedge ETF (NYSEARCA:RATE) Trading Down 1.2% – Here’s Why

Shares of Global X Interest Rate Hedge ETF (NYSEARCA:RATE) dropped 1.2% during mid-day trading on Friday . The stock traded as low as $20.17 and last traded at $20.31. Approximately 1,264 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 1,725 shares. The stock had previously closed at $20.56.

Global X Interest Rate Hedge ETF Trading Down 1.2 %

The stock’s fifty day simple moving average is $19.48 and its 200-day simple moving average is $19.01.

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 bought a new position in shares of Global X Interest Rate Hedge ETF (NYSEARCA:RATE) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,738 shares of the company’s stock, valued at approximately $188,000. Jane Street Group LLC owned approximately 10.74% of Global X Interest Rate Hedge ETF as of its most recent filing with the Securities and Exchange Commission (SEC).

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.