Global X MLP ETF (NYSEARCA:MLPA) Sees Unusually-High Trading Volume – Time to Buy?

Global X MLP ETF (NYSEARCA:MLPA) saw an uptick in trading volume on Monday . 887,895 shares traded hands during trading, an increase of 269% from the previous session’s volume of 240,940 shares.The stock last traded at $56.42 and had previously closed at $56.76.

Global X MLP ETF Stock Down 1.1%

The business has a 50-day simple moving average of $54.19 and a 200-day simple moving average of $53.62. The company has a market cap of $2.27 billion, a PE ratio of 14.42 and a beta of 0.45.

Hedge Funds Weigh In On Global X MLP ETF

Hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. purchased a new stake in Global X MLP ETF during the first quarter worth about $761,000. Empowered Funds LLC purchased a new stake in shares of Global X MLP ETF during the first quarter worth $1,555,000. Cerity Partners LLC raised its stake in shares of Global X MLP ETF by 17.1% in the second quarter. Cerity Partners LLC now owns 41,365 shares of the company’s stock valued at $2,077,000 after acquiring an additional 6,033 shares in the last quarter. Qube Research & Technologies Ltd raised its holdings in shares of Global X MLP ETF by 94.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 10,418 shares of the company’s stock valued at $523,000 after purchasing an additional 5,061 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of Global X MLP ETF by 8.5% in the 2nd quarter. NewEdge Advisors LLC now owns 89,230 shares of the company’s stock valued at $4,479,000 after purchasing an additional 7,010 shares during the last quarter.

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.