Global X MLP ETF (NYSEARCA:MLPA) Hits New 12-Month High – Here’s Why

Global X MLP ETF (NYSEARCA:MLPA)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $57.00 and last traded at $57.00, with a volume of 144 shares changing hands. The stock had previously closed at $56.37.

Global X MLP ETF Trading Up 1.0%

The firm’s fifty day moving average price is $54.32 and its 200-day moving average price is $53.79. The company has a market cap of $2.28 billion, a P/E ratio of 14.42 and a beta of 0.45.

Hedge Funds Weigh In On Global X MLP ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. acquired a new stake in shares of Global X MLP ETF during the 1st quarter worth approximately $761,000. Empowered Funds LLC bought a new position in Global X MLP ETF in the first quarter worth $1,555,000. Cerity Partners LLC lifted 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 purchasing an additional 6,033 shares during the period. Qube Research & Technologies Ltd boosted 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 buying an additional 5,061 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in Global X MLP ETF by 8.5% during the second quarter. NewEdge Advisors LLC now owns 89,230 shares of the company’s stock worth $4,479,000 after buying an additional 7,010 shares in the last quarter.

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.