Global X U.S. Infrastructure Development ETF (BATS:PAVE) Reaches New 12-Month High – Still a Buy?

Global X U.S. Infrastructure Development ETF (BATS:PAVE) shares reached a new 52-week high on Monday . The stock traded as high as $45.65 and last traded at $45.47, with a volume of 1095972 shares changing hands. The stock had previously closed at $45.09.

Global X U.S. Infrastructure Development ETF Stock Down 0.1 %

The firm’s fifty day moving average price is $41.03 and its two-hundred day moving average price is $39.15. The stock has a market capitalization of $8.58 billion, a PE ratio of 20.28 and a beta of 1.13.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Farmers & Merchants Investments Inc. grew its position in Global X U.S. Infrastructure Development ETF by 1,029.7% during the second quarter. Farmers & Merchants Investments Inc. now owns 723 shares of the company’s stock valued at $27,000 after buying an additional 659 shares during the period. Blue Trust Inc. grew its position in Global X U.S. Infrastructure Development ETF by 164.9% during the second quarter. Blue Trust Inc. now owns 816 shares of the company’s stock valued at $32,000 after buying an additional 508 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Global X U.S. Infrastructure Development ETF during the second quarter valued at approximately $33,000. First PREMIER Bank bought a new stake in Global X U.S. Infrastructure Development ETF during the third quarter valued at approximately $39,000. Finally, Howe & Rusling Inc. bought a new stake in Global X U.S. Infrastructure Development ETF during the third quarter valued at approximately $39,000.

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.