Global X Lithium & Battery Tech ETF (NYSEARCA:LIT) Sees Unusually-High Trading Volume – What’s Next?

Shares of Global X Lithium & Battery Tech ETF (NYSEARCA:LIT) saw strong trading volume on Monday. Approximately 1,063,716 shares changed hands during mid-day trading, an increase of 204% from the average daily volume of 349,421 shares. The stock last traded at $61.3550 and had previously closed at $60.68.

Global X Lithium & Battery Tech ETF Stock Down 0.1%

The stock has a market cap of $1.20 billion, a PE ratio of 21.25 and a beta of 1.05. The stock’s fifty day moving average price is $70.19 and its 200 day moving average price is $74.62.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LIT. Bank of America Corp DE lifted its stake in Global X Lithium & Battery Tech ETF by 36.8% during the 1st quarter. Bank of America Corp DE now owns 340,424 shares of the company’s stock valued at $25,310,000 after acquiring an additional 91,542 shares during the period. Whitcomb & Hess Inc. lifted its position in Global X Lithium & Battery Tech ETF by 0.8% during the third quarter. Whitcomb & Hess Inc. now owns 179,106 shares of the company’s stock valued at $12,254,000 after purchasing an additional 1,466 shares during the period. Royal Bank of Canada lifted its position in Global X Lithium & Battery Tech ETF by 2.2% during the first quarter. Royal Bank of Canada now owns 108,824 shares of the company’s stock valued at $8,092,000 after purchasing an additional 2,359 shares during the period. Wealthfront Advisers LLC boosted its holdings in Global X Lithium & Battery Tech ETF by 13.1% in the first quarter. Wealthfront Advisers LLC now owns 39,992 shares of the company’s stock worth $2,973,000 after purchasing an additional 4,629 shares during the last quarter. Finally, CX Institutional boosted its holdings in Global X Lithium & Battery Tech ETF by 18.2% in the third quarter. CX Institutional now owns 42,435 shares of the company’s stock worth $2,903,000 after purchasing an additional 6,547 shares during the last quarter.

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.