Global X U.S. Infrastructure Development ETF (BATS:PAVE) Reaches New 52-Week High – Time to Buy?

Global X U.S. Infrastructure Development ETF (BATS:PAVE) hit a new 52-week high during trading on Monday . The stock traded as high as $55.15 and last traded at $54.9950, with a volume of 1641361 shares. The stock had previously closed at $54.69.

Global X U.S. Infrastructure Development ETF Stock Performance

The company has a fifty day moving average of $50.03 and a two-hundred day moving average of $48.06. The company has a market cap of $10.84 billion, a price-to-earnings ratio of 23.34 and a beta of 1.24.

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

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Root Financial Partners LLC bought a new position in shares of Global X U.S. Infrastructure Development ETF in the 3rd quarter worth about $25,000. Darwin Wealth Management LLC acquired a new position in shares of Global X U.S. Infrastructure Development ETF during the second quarter worth approximately $25,000. Atlantic Union Bankshares Corp acquired a new position in shares of Global X U.S. Infrastructure Development ETF during the second quarter valued at about $26,000. eCIO Inc. bought a new stake in Global X U.S. Infrastructure Development ETF during the 4th quarter worth approximately $27,000. Finally, Avalon Trust Co bought a new stake in Global X U.S. Infrastructure Development ETF during the second quarter worth $29,000.

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. PAVE was launched on Mar 6, 2017 and is managed by Global X.