Global X Lithium & Battery Tech ETF (NYSEARCA:LIT) Reaches New 1-Year High – Should You Buy?

Global X Lithium & Battery Tech ETF (NYSEARCA:LIT)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $75.86 and last traded at $74.48, with a volume of 565993 shares trading hands. The stock had previously closed at $74.75.

Global X Lithium & Battery Tech ETF Stock Performance

The stock’s 50 day simple moving average is $66.06 and its 200 day simple moving average is $56.68. The firm has a market cap of $1.72 billion, a PE ratio of 21.25 and a beta of 1.05.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Kilter Group LLC purchased a new stake in Global X Lithium & Battery Tech ETF during the second quarter valued at about $26,000. Total Investment Management Inc. bought a new position in shares of Global X Lithium & Battery Tech ETF during the 2nd quarter valued at about $33,000. TD Waterhouse Canada Inc. raised its holdings in shares of Global X Lithium & Battery Tech ETF by 103.4% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 663 shares of the company’s stock valued at $38,000 after buying an additional 337 shares in the last quarter. Private Trust Co. NA purchased a new position in shares of Global X Lithium & Battery Tech ETF during the 3rd quarter valued at about $52,000. Finally, ORG Wealth Partners LLC bought a new stake in Global X Lithium & Battery Tech ETF in the 4th quarter worth approximately $53,000.

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.