Global X U.S. Infrastructure Development ETF (BATS:PAVE) Reaches New 1-Year High – Here’s What Happened

Global X U.S. Infrastructure Development ETF (BATS:PAVE)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $44.98 and last traded at $44.23, with a volume of 1151908 shares trading hands. The stock had previously closed at $44.77.

Global X U.S. Infrastructure Development ETF Stock Up 0.5 %

The firm has a market cap of $8.42 billion, a price-to-earnings ratio of 20.28 and a beta of 1.13. The stock’s 50 day moving average is $43.25 and its 200 day moving average is $40.01.

Hedge Funds Weigh In On Global X U.S. Infrastructure Development ETF

Several hedge funds have recently modified their holdings of PAVE. Farmers & Merchants Investments Inc. boosted its stake in Global X U.S. Infrastructure Development ETF by 1,029.7% during the second quarter. Farmers & Merchants Investments Inc. now owns 723 shares of the company’s stock valued at $27,000 after buying an additional 659 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Global X U.S. Infrastructure Development ETF by 164.9% during the 2nd quarter. Blue Trust Inc. now owns 816 shares of the company’s stock valued at $32,000 after purchasing an additional 508 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Global X U.S. Infrastructure Development ETF in the 2nd quarter worth approximately $33,000. First PREMIER Bank bought a new stake in shares of Global X U.S. Infrastructure Development ETF in the 3rd quarter worth approximately $39,000. Finally, Howe & Rusling Inc. acquired a new stake in Global X U.S. Infrastructure Development ETF during the third quarter valued at approximately $39,000.

About Global X U.S. Infrastructure Development ETF

The Global X U.S. Infrastructure Development ETF (PAVE) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund tracks a market-cap-weighted index of US-listed companies that derive the majority of their revenue from or have a stated business purpose related to infrastructure development.