ProShares Equities For Rising Rates ETF (NASDAQ:EQRR) Trading Up 1.4% – Should You Buy?

ProShares Equities For Rising Rates ETF (NASDAQ:EQRR) shot up 1.4% during trading on Tuesday . The stock traded as high as $60.69 and last traded at $60.66. 96 shares traded hands during trading, a decline of 86% from the average session volume of 678 shares. The stock had previously closed at $59.82.

ProShares Equities For Rising Rates ETF Stock Performance

The stock has a market cap of $10.31 million, a PE ratio of 16.51 and a beta of 1.36. The company’s 50-day moving average price is $59.95 and its 200 day moving average price is $58.36.

ProShares Equities For Rising Rates ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Wednesday, June 25th were given a dividend of $0.299 per share. The ex-dividend date of this dividend was Wednesday, June 25th. This represents a $1.20 annualized dividend and a dividend yield of 2.0%.

Institutional Investors Weigh In On ProShares Equities For Rising Rates ETF

A hedge fund recently raised its stake in ProShares Equities For Rising Rates ETF stock. Royal Bank of Canada increased its position in ProShares Equities For Rising Rates ETF (NASDAQ:EQRR) by 324.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,686 shares of the company’s stock after acquiring an additional 7,403 shares during the quarter. Royal Bank of Canada owned about 5.10% of ProShares Equities For Rising Rates ETF worth $572,000 at the end of the most recent quarter.

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.