Global X MLP ETF (NYSEARCA:MLPA) Sees Large Volume Increase – Still a Buy?

Shares of Global X MLP ETF (NYSEARCA:MLPA) saw strong trading volume on Monday . Approximately 887,895 shares traded hands during mid-day trading, an increase of 269% from the previous session’s volume of 240,940 shares.The stock last traded at $56.42 and had previously closed at $56.76.

Global X MLP ETF Price Performance

The firm’s 50 day moving average is $54.19 and its 200 day moving average is $53.62. The firm has a market cap of $2.27 billion, a P/E ratio of 14.42 and a beta of 0.45.

Institutional Trading of Global X MLP ETF

Large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. purchased a new stake in shares of Global X MLP ETF during the first quarter worth $761,000. Empowered Funds LLC acquired a new position in Global X MLP ETF in the first quarter valued at approximately $1,555,000. Cerity Partners LLC grew its position in Global X MLP ETF by 17.1% in the second quarter. Cerity Partners LLC now owns 41,365 shares of the company’s stock worth $2,077,000 after acquiring an additional 6,033 shares during the period. Qube Research & Technologies Ltd increased its stake in Global X MLP ETF by 94.5% during the second quarter. Qube Research & Technologies Ltd now owns 10,418 shares of the company’s stock worth $523,000 after acquiring an additional 5,061 shares during the last quarter. Finally, NewEdge Advisors LLC raised its position in Global X MLP ETF by 8.5% in the second quarter. NewEdge Advisors LLC now owns 89,230 shares of the company’s stock valued at $4,479,000 after purchasing an additional 7,010 shares during the period.

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.