Global X Autonomous & Electric Vehicles ETF (NASDAQ:DRIV) Trading 4.8% Higher – Should You Buy?

Global X Autonomous & Electric Vehicles ETF (NASDAQ:DRIV) shares were up 4.8% during trading on Wednesday . The stock traded as high as $32.71 and last traded at $32.51. Approximately 42,266 shares changed hands during trading, a decline of 15% from the average daily volume of 49,912 shares. The stock had previously closed at $31.02.

Global X Autonomous & Electric Vehicles ETF Stock Performance

The firm has a fifty day simple moving average of $31.55 and a 200 day simple moving average of $30.53. The company has a market capitalization of $352.73 million, a PE ratio of -116.11 and a beta of 1.34.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Jones Financial Companies Lllp increased its holdings in Global X Autonomous & Electric Vehicles ETF by 261.2% during the 1st quarter. Jones Financial Companies Lllp now owns 13,107 shares of the technology company’s stock worth $277,000 after purchasing an additional 9,478 shares during the period. Ameriprise Financial Inc. purchased a new position in Global X Autonomous & Electric Vehicles ETF during the 3rd quarter worth $230,000. Strive Financial Group LLC purchased a new position in Global X Autonomous & Electric Vehicles ETF during the 4th quarter worth $80,000. Finally, Farther Finance Advisors LLC increased its holdings in Global X Autonomous & Electric Vehicles ETF by 802.2% during the 4th quarter. Farther Finance Advisors LLC now owns 2,075 shares of the technology company’s stock worth $61,000 after purchasing an additional 1,845 shares during the period. 80.78% of the stock is currently owned by hedge funds and other institutional investors.

About Global X Autonomous & Electric Vehicles ETF

The Global X Autonomous & Electric Vehicles ETF (DRIV) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund tracks an index that uses artificial intelligence to select global stocks involved in the development, production, or supporting technology of autonomous and electronic vehicles. DRIV was launched on Apr 13, 2018 and is issued by Global X.