Fishing rod texture always looks like it has been cast when in the player's hand

The bug

The fishing rod texture while in the player's hand always appears as if the bobber has been thrown, even if the bobber has not been thrown or has been retracted. The texture is correct if the rod is not in the player's hand in the hotbar or inventory. It's the same in both creative and survival.

How to reproduce

1. Get a fishing rod and place it in the hotbar
2. Scroll to select it on the hotbar
   Notice that the texture changes, both in the inventory as well as in the hand model, as it gets selected or unselected