Global X MLP ETF (NYSEARCA:MLPA) Sets New 52-Week High – Time to Buy?

Global X MLP ETF (NYSEARCA:MLPA)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $57.31 and last traded at $57.31, with a volume of 120789 shares trading hands. The stock had previously closed at $56.83.

Global X MLP ETF Stock Performance

The stock has a 50 day moving average price of $55.55 and a 200 day moving average price of $54.48. The company has a market capitalization of $2.33 billion, a P/E ratio of 14.42 and a beta of 0.45.

Institutional Trading of Global X MLP ETF

Several hedge funds have recently added to or reduced their stakes in the stock. Field & Main Bank purchased a new position in Global X MLP ETF in the second quarter valued at about $99,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Global X MLP ETF during the 1st quarter worth approximately $102,000. NBH Bank purchased a new stake in shares of Global X MLP ETF during the 2nd quarter worth approximately $119,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Global X MLP ETF by 541.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,957 shares of the company’s stock worth $143,000 after purchasing an additional 2,496 shares during the period. Finally, Stillwater Private Wealth LLC bought a new stake in shares of Global X MLP ETF in the 1st quarter worth approximately $200,000.

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.