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

ProShares Equities For Rising Rates ETF (NASDAQ:EQRR)’s share price were down 2.4% during trading on Thursday . The company traded as low as $66.75 and last traded at $66.7140. Approximately 58 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 286 shares. The stock had previously closed at $68.32.

ProShares Equities For Rising Rates ETF Stock Down 2.4%

The stock’s 50 day moving average price is $65.70 and its 200-day moving average price is $63.44. The stock has a market capitalization of $11.34 million, a PE ratio of 16.51 and a beta of 1.09.

ProShares Equities For Rising Rates ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 24th were given a dividend of $0.219 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Wednesday, December 24th.

Institutional Investors Weigh In On ProShares Equities For Rising Rates ETF

Several institutional investors have recently made changes to their positions in EQRR. International Assets Investment Management LLC purchased a new stake in shares of ProShares Equities For Rising Rates ETF in the 4th quarter worth $31,000. Citadel Advisors LLC lifted its holdings in shares of ProShares Equities For Rising Rates ETF by 11.9% in the 3rd quarter. Citadel Advisors LLC now owns 7,826 shares of the company’s stock valued at $494,000 after buying an additional 831 shares during the period. Susquehanna International Group LLP lifted its stake in shares of ProShares Equities For Rising Rates ETF by 63.1% in the 3rd quarter. Susquehanna International Group LLP now owns 7,834 shares of the company’s stock valued at $495,000 after purchasing an additional 3,032 shares during the period. Royal Bank of Canada raised its position in shares of ProShares Equities For Rising Rates ETF by 324.3% in the first quarter. Royal Bank of Canada now owns 9,686 shares of the company’s stock worth $572,000 after acquiring an additional 7,403 shares during the period. Finally, SG Americas Securities LLC raised its holdings in ProShares Equities For Rising Rates ETF by 223.1% in the 4th quarter. SG Americas Securities LLC now owns 23,978 shares of the company’s stock worth $1,543,000 after purchasing an additional 16,556 shares during the period.

About ProShares Equities For Rising Rates ETF

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.