Global X MLP ETF (NYSEARCA:MLPA) Reaches New 12-Month High – Still a Buy?

Shares of Global X MLP ETF (NYSEARCA:MLPA) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $54.18 and last traded at $54.0040, with a volume of 79795 shares traded. The stock had previously closed at $53.51.

Global X MLP ETF Trading Up 1.2%

The stock’s 50 day moving average is $50.80 and its two-hundred day moving average is $49.38. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of 14.42 and a beta of 0.64.

Global X MLP ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 12th. Investors of record on Monday, February 9th were given a $1.00 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $4.00 dividend on an annualized basis and a yield of 7.4%. This is a boost from Global X MLP ETF’s previous quarterly dividend of $0.98.

Hedge Funds Weigh In On Global X MLP ETF

Several hedge funds have recently made changes to their positions in the business. Clean Yield Group acquired a new position in Global X MLP ETF during the third quarter worth $26,000. Smartleaf Asset Management LLC bought a new position in shares of Global X MLP ETF in the 3rd quarter valued at about $46,000. Private Trust Co. NA raised its holdings in Global X MLP ETF by 39.2% during the third quarter. Private Trust Co. NA now owns 1,066 shares of the company’s stock worth $52,000 after acquiring an additional 300 shares in the last quarter. NBC Securities Inc. grew its stake in Global X MLP ETF by 9.7% in the fourth quarter. NBC Securities Inc. now owns 2,683 shares of the company’s stock valued at $130,000 after purchasing an additional 238 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Global X MLP ETF by 541.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,957 shares of the company’s stock worth $143,000 after purchasing an additional 2,496 shares during the last quarter.

Global X MLP ETF Company Profile

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.