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Sit Fixed Income Advisors rings NYSE opening bell

Sit Fixed Income Advisors rang the opening bell at the New York Stock Exchange on Friday, marking the start of trading.

The firm celebrated its Sit Rising Rate ETF, which was designed to hedge against rising interest rates on U.S. Treasury notes, according to a press release.

The U.S. Treasury Building.
John Greim | LightRocket | Getty Images
The U.S. Treasury Building.

The event comes less than two weeks before the Federal Open Market Committee's next meeting, at which it could raise interests for the first time in more than nine years.

Sit Fixed Income Advisors Senior Portfolio Manager Bryce Doty, executives and guests attended the NYSE bell ringing. The Sit Rising Rate ETF trades under the ticker symbol "RISE."

The ETF was launched early this year.