Global X MLP ETF (NYSEARCA:MLPA) Reaches New 12-Month High – Time to Buy?

Global X MLP ETF (NYSEARCA:MLPA)’s share price hit a new 52-week high on Thursday . The stock traded as high as $52.68 and last traded at $52.68, with a volume of 89937 shares changing hands. The stock had previously closed at $52.11.

Global X MLP ETF Stock Performance

The firm has a 50 day simple moving average of $50.16 and a two-hundred day simple moving average of $48.77. The stock has a market cap of $1.79 billion, a P/E ratio of 12.27 and a beta of 0.37.

Hedge Funds Weigh In On Global X MLP ETF

Several large investors have recently bought and sold shares of the stock. Evergreen Capital Management LLC bought a new position in shares of Global X MLP ETF during the 2nd quarter valued at about $23,028,000. Strong Tower Advisory Services lifted its stake in Global X MLP ETF by 383.6% during the third quarter. Strong Tower Advisory Services now owns 36,420 shares of the company’s stock valued at $1,747,000 after purchasing an additional 28,889 shares during the last quarter. Sunbelt Securities Inc. boosted its holdings in Global X MLP ETF by 116.9% during the second quarter. Sunbelt Securities Inc. now owns 14,446 shares of the company’s stock worth $701,000 after buying an additional 7,785 shares in the last quarter. Guild Investment Management Inc. grew its position in Global X MLP ETF by 3.8% in the third quarter. Guild Investment Management Inc. now owns 47,350 shares of the company’s stock worth $2,272,000 after buying an additional 1,750 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new position in shares of Global X MLP ETF in the second quarter valued at $287,000.

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.