Global X Millennial Consumer ETF (NASDAQ:MILN) Shares Down 2% – Here’s Why

Global X Millennial Consumer ETF (NASDAQ:MILN) traded down 2% during mid-day trading on Monday . The company traded as low as $42.34 and last traded at $42.41. 6,642 shares were traded during trading, a decline of 46% from the average session volume of 12,300 shares. The stock had previously closed at $43.26.

Global X Millennial Consumer ETF Price Performance

The business’s 50 day moving average price is $43.44 and its 200 day moving average price is $44.17. The stock has a market capitalization of $95.00 million, a P/E ratio of 27.54 and a beta of 1.19.

Institutional Investors Weigh In On Global X Millennial Consumer ETF

A number of large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its stake in Global X Millennial Consumer ETF by 19.0% during the 1st quarter. Bank of America Corp DE now owns 538,010 shares of the company’s stock valued at $21,868,000 after buying an additional 86,001 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Global X Millennial Consumer ETF by 94,371.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 198,389 shares of the company’s stock worth $9,309,000 after buying an additional 198,179 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Global X Millennial Consumer ETF in the 2nd quarter worth $2,061,000. Moran Wealth Management LLC grew its holdings in shares of Global X Millennial Consumer ETF by 0.7% in the first quarter. Moran Wealth Management LLC now owns 36,869 shares of the company’s stock worth $1,499,000 after acquiring an additional 266 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Global X Millennial Consumer ETF by 10.0% in the third quarter. Envestnet Asset Management Inc. now owns 30,531 shares of the company’s stock worth $1,510,000 after acquiring an additional 2,775 shares during the period.

About Global X Millennial Consumer ETF

The Global X Millennials Consumer ETF (MILN) is an exchange-traded fund that is based on the Indxx Millennials Thematic index. The fund tracks an index composed of US-listed companies that derive a significant source of their revenue from spending categories determined to be associated with millennials – people born between 1980 and 2000. MILN was launched on May 4, 2016 and is managed by Global X.