Global X 1-3 Month T-Bill ETF (NYSEARCA:CLIP) Sees Unusually-High Trading Volume – Still a Buy?

Global X 1-3 Month T-Bill ETF (NYSEARCA:CLIP) saw strong trading volume on Monday . 3,031,355 shares changed hands during trading, an increase of 748% from the previous session’s volume of 357,472 shares.The stock last traded at $100.13 and had previously closed at $100.12.

Global X 1-3 Month T-Bill ETF Trading Up 0.0%

The firm has a fifty day moving average of $100.22 and a two-hundred day moving average of $100.23.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CLIP. Jane Street Group LLC purchased a new position in shares of Global X 1-3 Month T-Bill ETF in the 1st quarter valued at approximately $440,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Global X 1-3 Month T-Bill ETF by 9.9% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 175,510 shares of the company’s stock valued at $17,625,000 after purchasing an additional 15,880 shares during the period. Bank of America Corp DE increased its position in Global X 1-3 Month T-Bill ETF by 115.4% during the 2nd quarter. Bank of America Corp DE now owns 41,007 shares of the company’s stock valued at $4,118,000 after buying an additional 21,968 shares in the last quarter. MML Investors Services LLC raised its stake in Global X 1-3 Month T-Bill ETF by 29.4% during the second quarter. MML Investors Services LLC now owns 13,309 shares of the company’s stock valued at $1,336,000 after buying an additional 3,026 shares during the last quarter. Finally, Two Sigma Securities LLC purchased a new position in Global X 1-3 Month T-Bill ETF during the second quarter valued at $571,000.

About Global X 1-3 Month T-Bill ETF

The Global X 1-3 Month T-Bill ETF (CLIP) is an exchange-traded fund that is based on the Solactive 1-3 month US T-Bill – USD index. The fund tracks a market value-weighted index of USD-denominated, zero-coupon US Treasury bills with a time to maturity of one to three months. CLIP was launched on Jun 20, 2023 and is managed by Global X.