Global X U.S. Infrastructure Development ETF (BATS:PAVE) Sets New 1-Year High – Time to Buy?

Global X U.S. Infrastructure Development ETF (BATS:PAVE) shares hit a new 52-week high on Monday . The company traded as high as $59.28 and last traded at $59.16, with a volume of 1045563 shares changing hands. The stock had previously closed at $58.56.

Global X U.S. Infrastructure Development ETF Trading Up 1.0%

The company has a market capitalization of $11.68 billion, a PE ratio of 23.34 and a beta of 1.24. The firm’s 50-day simple moving average is $56.19 and its 200-day simple moving average is $52.98.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Steelhead Wealth Management LLC purchased a new stake in shares of Global X U.S. Infrastructure Development ETF in the 1st quarter worth $2,684,000. Pine Valley Investments Ltd Liability Co lifted its stake in Global X U.S. Infrastructure Development ETF by 21.9% in the first quarter. Pine Valley Investments Ltd Liability Co now owns 10,248 shares of the company’s stock worth $521,000 after acquiring an additional 1,844 shares during the period. Parallel Advisors LLC lifted its stake in Global X U.S. Infrastructure Development ETF by 220.7% in the first quarter. Parallel Advisors LLC now owns 59,691 shares of the company’s stock worth $3,033,000 after acquiring an additional 41,081 shares during the period. NewEdge Advisors LLC grew its holdings in Global X U.S. Infrastructure Development ETF by 5.0% during the 1st quarter. NewEdge Advisors LLC now owns 125,347 shares of the company’s stock worth $6,369,000 after acquiring an additional 5,937 shares in the last quarter. Finally, Foguth Wealth Management LLC. bought a new position in Global X U.S. Infrastructure Development ETF during the 1st quarter worth about $327,000.

Global X U.S. Infrastructure Development ETF Company Profile

The Global X U.S. Infrastructure Development ETF (PAVE) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund tracks a market-cap-weighted index of US-listed companies that derive the majority of their revenue from or have a stated business purpose related to infrastructure development. PAVE was launched on Mar 6, 2017 and is managed by Global X.