Global X MLP ETF (NYSEARCA:MLPA) Sees Large Volume Increase – Still a Buy?

Shares of Global X MLP ETF (NYSEARCA:MLPA) saw unusually-high trading volume on Monday . 357,605 shares were traded during mid-day trading, an increase of 195% from the previous session’s volume of 121,323 shares.The stock last traded at $49.03 and had previously closed at $48.88.

Global X MLP ETF Trading Up 1.1 %

The stock has a 50-day moving average of $48.04 and a 200-day moving average of $47.83. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 12.27 and a beta of 0.37.

Institutional Investors Weigh In On Global X MLP ETF

Several large investors have recently made changes to their positions in MLPA. Cetera Investment Advisers grew its holdings in Global X MLP ETF by 44.0% in the 1st quarter. Cetera Investment Advisers now owns 295,725 shares of the company’s stock worth $14,260,000 after buying an additional 90,297 shares in the last quarter. Pekin Hardy Strauss Inc. grew its stake in shares of Global X MLP ETF by 9.9% in the second quarter. Pekin Hardy Strauss Inc. now owns 59,212 shares of the company’s stock worth $2,872,000 after purchasing an additional 5,325 shares in the last quarter. Evergreen Capital Management LLC bought a new position in shares of Global X MLP ETF in the second quarter worth $23,028,000. Strong Tower Advisory Services lifted its holdings in Global X MLP ETF by 383.6% in the third quarter. Strong Tower Advisory Services now owns 36,420 shares of the company’s stock worth $1,747,000 after purchasing an additional 28,889 shares during the period. Finally, Financial Advocates Investment Management grew its position in Global X MLP ETF by 4.1% in the 2nd quarter. Financial Advocates Investment Management now owns 17,027 shares of the company’s stock valued at $826,000 after buying an additional 673 shares in the last quarter.

About Global X MLP ETF

The Global X MLP ETF (MLPA) is an exchange-traded fund that is based on the Solactive MLP Infrastructure index, a market-cap-weighted index of US-listed midstream MLPs, and is structured as a C-corporation. MLPA was launched on Apr 18, 2012 and is managed by Global X.