Global X U.S. Infrastructure Development ETF (BATS:PAVE) Sets New 12-Month High – Still a Buy?

Global X U.S. Infrastructure Development ETF (BATS:PAVE) shares reached a new 52-week high during trading on Monday . The company traded as high as $59.01 and last traded at $58.68, with a volume of 201813 shares trading hands. The stock had previously closed at $57.76.

Global X U.S. Infrastructure Development ETF Stock Performance

The stock’s 50-day moving average is $55.54 and its 200 day moving average is $52.62. The firm has a market cap of $11.54 billion, a P/E ratio of 23.34 and a beta of 1.24.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Darwin Wealth Management LLC acquired a new position in shares of Global X U.S. Infrastructure Development ETF during the 2nd quarter worth about $25,000. eCIO Inc. acquired a new stake in Global X U.S. Infrastructure Development ETF in the 4th quarter valued at about $27,000. Axiom Investment Management LLC acquired a new stake in Global X U.S. Infrastructure Development ETF in the 1st quarter valued at about $28,000. NBT Bank N A NY bought a new position in Global X U.S. Infrastructure Development ETF in the 1st quarter valued at about $29,000. Finally, Clearstead Trust LLC bought a new position in Global X U.S. Infrastructure Development ETF in the 1st quarter valued at about $31,000.

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.