Global X Lithium & Battery Tech ETF (NYSEARCA:LIT) Hits New 52-Week High – Time to Buy?

Global X Lithium & Battery Tech ETF (NYSEARCA:LIT) reached a new 52-week high during trading on Wednesday . The stock traded as high as $84.56 and last traded at $83.03, with a volume of 451650 shares traded. The stock had previously closed at $82.87.

Global X Lithium & Battery Tech ETF Trading Up 0.2%

The stock has a market cap of $1.93 billion, a P/E ratio of 21.25 and a beta of 0.98. The firm’s 50-day simple moving average is $73.93 and its 200 day simple moving average is $67.93.

Hedge Funds Weigh In On Global X Lithium & Battery Tech ETF

Several hedge funds and other institutional investors have recently made changes to their positions in LIT. JPMorgan Chase & Co. boosted its position in shares of Global X Lithium & Battery Tech ETF by 47.0% during the second quarter. JPMorgan Chase & Co. now owns 12,523 shares of the company’s stock worth $481,000 after buying an additional 4,005 shares during the period. Sei Investments Co. acquired a new position in shares of Global X Lithium & Battery Tech ETF during the second quarter worth approximately $240,000. Betterment LLC acquired a new position in shares of Global X Lithium & Battery Tech ETF during the second quarter worth approximately $206,000. Ameriprise Financial Inc. boosted its position in shares of Global X Lithium & Battery Tech ETF by 10.8% during the second quarter. Ameriprise Financial Inc. now owns 39,540 shares of the company’s stock worth $1,492,000 after buying an additional 3,839 shares during the period. Finally, Private Trust Co. NA acquired a new position in shares of Global X Lithium & Battery Tech ETF during the third quarter worth approximately $52,000.

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.