Global X Lithium & Battery Tech ETF (NYSEARCA:LIT) Reaches New 12-Month High – Should You Buy?

Shares of Global X Lithium & Battery Tech ETF (NYSEARCA:LIT) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $78.00 and last traded at $77.49, with a volume of 150904 shares. The stock had previously closed at $75.59.

Global X Lithium & Battery Tech ETF Stock Performance

The company has a 50 day moving average of $70.60 and a two-hundred day moving average of $61.38. The stock has a market capitalization of $1.78 billion, a PE ratio of 21.25 and a beta of 1.05.

Hedge Funds Weigh In On Global X Lithium & Battery Tech ETF

Hedge funds have recently made changes to their positions in the company. Wealthspire Advisors LLC increased its position in shares of Global X Lithium & Battery Tech ETF by 2.2% in the fourth quarter. Wealthspire Advisors LLC now owns 7,765 shares of the company’s stock valued at $504,000 after buying an additional 168 shares in the last quarter. Centaurus Financial Inc. lifted its position in shares of Global X Lithium & Battery Tech ETF by 4.1% in the third quarter. Centaurus Financial Inc. now owns 4,593 shares of the company’s stock valued at $261,000 after acquiring an additional 181 shares in the last quarter. SBI Securities Co. Ltd. boosted its stake in shares of Global X Lithium & Battery Tech ETF by 11.8% in the fourth quarter. SBI Securities Co. Ltd. now owns 2,836 shares of the company’s stock worth $184,000 after acquiring an additional 299 shares during the last quarter. Betterment LLC increased its position in shares of Global X Lithium & Battery Tech ETF by 7.2% during the fourth quarter. Betterment LLC now owns 4,840 shares of the company’s stock worth $314,000 after purchasing an additional 325 shares in the last quarter. Finally, TD Waterhouse Canada Inc. lifted its holdings in Global X Lithium & Battery Tech ETF by 103.4% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 663 shares of the company’s stock valued at $38,000 after purchasing an additional 337 shares in 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.