Global X MLP ETF (NYSEARCA:MLPA) Sets New 52-Week High – Time to Buy?

Global X MLP ETF (NYSEARCA:MLPA) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $54.05 and last traded at $53.61, with a volume of 246542 shares traded. The stock had previously closed at $52.85.

Global X MLP ETF Price Performance

The stock’s 50-day moving average is $50.91 and its 200-day moving average is $49.03. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 12.27 and a beta of 0.37.

Institutional Trading of Global X MLP ETF

A number of hedge funds have recently added to or reduced their stakes in the business. Paladin Wealth LLC acquired a new stake in shares of Global X MLP ETF during the 3rd quarter worth $40,000. Capital Advisors Ltd. LLC grew its position in Global X MLP ETF by 94.4% during the third quarter. Capital Advisors Ltd. LLC now owns 1,079 shares of the company’s stock valued at $52,000 after acquiring an additional 524 shares during the period. Hara Capital LLC purchased a new stake in Global X MLP ETF during the third quarter valued at about $59,000. Heck Capital Advisors LLC acquired a new stake in Global X MLP ETF during the fourth quarter worth about $61,000. Finally, Advisors Asset Management Inc. purchased a new position in shares of Global X MLP ETF in the 3rd quarter worth about $65,000.

Global X MLP ETF Company Profile

The Global X MLP ETF (MLPA) is an exchange-traded fund that is based on the Solactive MLP Infrastructure index, a market-cap-weighted index of US-listed midstream MLPs, and is structured as a C-corporation. MLPA was launched on Apr 18, 2012 and is managed by Global X.