Global X U.S. Infrastructure Development ETF (BATS:PAVE) Hits New 1-Year High – Here’s What Happened

Global X U.S. Infrastructure Development ETF (BATS:PAVE) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $44.23 and last traded at $44.02, with a volume of 749759 shares trading hands. The stock had previously closed at $43.81.

Global X U.S. Infrastructure Development ETF Price Performance

The stock has a market capitalization of $8.43 billion, a price-to-earnings ratio of 20.28 and a beta of 1.13. The stock’s 50 day simple moving average is $41.44 and its 200-day simple moving average is $39.29.

Institutional Investors Weigh In On Global X U.S. Infrastructure Development ETF

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of Montreal Can raised its holdings in Global X U.S. Infrastructure Development ETF by 11.0% during the second quarter. Bank of Montreal Can now owns 19,491,116 shares of the company’s stock valued at $726,044,000 after buying an additional 1,928,517 shares in the last quarter. EP Wealth Advisors LLC acquired a new stake in Global X U.S. Infrastructure Development ETF in the 3rd quarter worth approximately $31,003,000. Cetera Investment Advisers boosted its position in Global X U.S. Infrastructure Development ETF by 325.0% during the first quarter. Cetera Investment Advisers now owns 922,494 shares of the company’s stock worth $36,724,000 after purchasing an additional 705,438 shares during the period. Axxcess Wealth Management LLC grew its holdings in Global X U.S. Infrastructure Development ETF by 1,243.3% during the third quarter. Axxcess Wealth Management LLC now owns 678,063 shares of the company’s stock valued at $27,909,000 after purchasing an additional 627,585 shares during the last quarter. Finally, Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management raised its position in shares of Global X U.S. Infrastructure Development ETF by 84.5% in the second quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management now owns 939,000 shares of the company’s stock valued at $34,761,000 after purchasing an additional 430,000 shares during the period.

About Global X U.S. Infrastructure Development ETF

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.