ProShares Equities For Rising Rates ETF (NASDAQ:EQRR) Stock Price Up 0.9% – Time to Buy?

Shares of ProShares Equities For Rising Rates ETF (NASDAQ:EQRR) shot up 0.9% on Wednesday . The stock traded as high as $63.19 and last traded at $63.15. 3,357 shares traded hands during trading, an increase of 285% from the average session volume of 871 shares. The stock had previously closed at $62.58.

ProShares Equities For Rising Rates ETF Trading Up 0.9%

The company has a market cap of $8.84 million, a P/E ratio of 16.51 and a beta of 1.09. The company’s 50-day moving average price is $62.72 and its two-hundred day moving average price is $61.12.

ProShares Equities For Rising Rates ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Wednesday, September 24th were issued a dividend of $0.2328 per share. This represents a $0.93 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Wednesday, September 24th.

Institutional Investors Weigh In On ProShares Equities For Rising Rates ETF

A number of institutional investors have recently made changes to their positions in EQRR. Royal Bank of Canada raised its holdings in shares of ProShares Equities For Rising Rates ETF by 324.3% during the first quarter. Royal Bank of Canada now owns 9,686 shares of the company’s stock valued at $572,000 after buying an additional 7,403 shares during the last quarter. Susquehanna International Group LLP increased its position in 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 acquiring an additional 3,032 shares during the period. Finally, Citadel Advisors LLC raised its stake in ProShares Equities For Rising Rates ETF by 11.9% during the 3rd quarter. Citadel Advisors LLC now owns 7,826 shares of the company’s stock valued at $494,000 after acquiring an additional 831 shares in the last 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.