Global X Lithium & Battery Tech ETF (NYSEARCA:LIT) Reaches New 12-Month High – Should You Buy?

Global X Lithium & Battery Tech ETF (NYSEARCA:LIT) reached a new 52-week high during trading on Tuesday . The company traded as high as $68.00 and last traded at $69.4050, with a volume of 2554 shares. The stock had previously closed at $67.41.

Global X Lithium & Battery Tech ETF Trading Down 1.3%

The stock’s 50 day moving average is $63.72 and its 200-day moving average is $53.63. The company has a market cap of $1.55 billion, a P/E ratio of 21.25 and a beta of 1.05.

Institutional Investors Weigh In On Global X Lithium & Battery Tech ETF

A number of hedge funds have recently made changes to their positions in LIT. TD Waterhouse Canada Inc. grew its holdings in shares of Global X Lithium & Battery Tech ETF by 103.4% in the third quarter. TD Waterhouse Canada Inc. now owns 663 shares of the company’s stock valued at $38,000 after purchasing an additional 337 shares in the last quarter. Kilter Group LLC purchased a new position in shares of Global X Lithium & Battery Tech ETF during the second quarter valued at $26,000. Total Investment Management Inc. bought a new stake in shares of Global X Lithium & Battery Tech ETF in the second quarter valued at about $33,000. Private Trust Co. NA bought a new position in Global X Lithium & Battery Tech ETF during the 3rd quarter worth about $52,000. Finally, Global Retirement Partners LLC grew its holdings in Global X Lithium & Battery Tech ETF by 390.0% during the 3rd quarter. Global Retirement Partners LLC now owns 1,279 shares of the company’s stock worth $73,000 after acquiring an additional 1,018 shares in the last quarter.

About Global X Lithium & Battery Tech ETF

Global X Lithium ETF (the Fund) seeks to provide investment results that correspond generally to the price and yield performance of the Solactive Global Lithium Index (the Index). The Index is free float adjusted, liquidity tested and market capitalization-weighted index that is designed to measure broad based equity market performance of global companies involved in the lithium industry, as defined by Structured Solutions AG. The Fund will normally invest at least 80% of its total assets in the securities of the Index and in depositary receipts based on the securities in the Index.