Global X MLP ETF (NYSEARCA:MLPA) Reaches New 1-Year High – Still a Buy?

Shares of Global X MLP ETF (NYSEARCA:MLPA) reached a new 52-week high on Wednesday . The company traded as high as $57.78 and last traded at $57.5990, with a volume of 42638 shares. The stock had previously closed at $57.54.

Global X MLP ETF Price Performance

The firm has a market cap of $2.33 billion, a P/E ratio of 14.42 and a beta of 0.46. The stock’s 50 day moving average is $55.90 and its two-hundred day moving average is $54.60.

Hedge Funds Weigh In On Global X MLP ETF

Institutional investors have recently modified their holdings of the stock. Bank of America Corp DE raised its position in Global X MLP ETF by 3.7% in the 3rd quarter. Bank of America Corp DE now owns 1,187,268 shares of the company’s stock worth $57,488,000 after purchasing an additional 42,273 shares during the last quarter. Gradient Investments LLC grew its position in shares of Global X MLP ETF by 3.4% during the 2nd quarter. Gradient Investments LLC now owns 436,144 shares of the company’s stock worth $23,151,000 after buying an additional 14,343 shares during the period. Royal Bank of Canada increased its stake in Global X MLP ETF by 7.2% in the first quarter. Royal Bank of Canada now owns 403,392 shares of the company’s stock valued at $21,733,000 after purchasing an additional 26,983 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Global X MLP ETF by 31.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 399,223 shares of the company’s stock valued at $19,326,000 after buying an additional 94,623 shares in the last quarter. Finally, Cetera Investment Advisers raised its position in shares of Global X MLP ETF by 2.3% during the first quarter. Cetera Investment Advisers now owns 321,927 shares of the company’s stock worth $17,342,000 after purchasing an additional 7,370 shares during the period.

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.