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

Global X MLP ETF (NYSEARCA:MLPA) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $51.11 and last traded at $51.11, with a volume of 2885 shares traded. The stock had previously closed at $50.96.

Global X MLP ETF Stock Performance

The company has a market capitalization of $1.74 billion, a P/E ratio of 12.27 and a beta of 0.37. The company has a 50-day simple moving average of $48.38 and a 200 day simple moving average of $47.95.

Institutional Investors Weigh In On Global X MLP ETF

Institutional investors and hedge funds have recently bought and sold shares of the business. Evergreen Capital Management LLC bought a new stake in Global X MLP ETF in the second quarter valued at $23,028,000. Raymond James & Associates increased its holdings in shares of Global X MLP ETF by 38.6% during the third quarter. Raymond James & Associates now owns 465,116 shares of the company’s stock worth $22,316,000 after buying an additional 129,449 shares in the last quarter. Gradient Investments LLC raised its stake in shares of Global X MLP ETF by 18.6% in the second quarter. Gradient Investments LLC now owns 616,720 shares of the company’s stock valued at $29,911,000 after acquiring an additional 96,852 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of Global X MLP ETF by 44.0% in the 1st quarter. Cetera Investment Advisers now owns 295,725 shares of the company’s stock worth $14,260,000 after acquiring an additional 90,297 shares in the last quarter. Finally, Cetera Advisors LLC grew its position in Global X MLP ETF by 164.1% during the 1st quarter. Cetera Advisors LLC now owns 98,179 shares of the company’s stock worth $4,734,000 after acquiring an additional 61,003 shares during the last quarter.

About Global X MLP ETF

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.