Global X MLP ETF (NYSEARCA:MLPA) Stock Short Interest Jumps 91.7%

Global X MLP ETF (NYSEARCA:MLPA) was the recipient of a large growth in short interest in the month of October. As of October 15th, there was short interest totaling 945,490 shares, a growth of 91.7% from the September 30th total of 493,275 shares. Currently, 2.2% of the shares of the company are sold short. Based on an average daily volume of 350,812 shares, the short-interest ratio is currently 2.7 days.

Hedge Funds Weigh In On Global X MLP ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MLPA. Evergreen Capital Management LLC acquired a new position in Global X MLP ETF during the 3rd quarter worth $25,760,000. Gradient Investments LLC increased its holdings in shares of Global X MLP ETF by 3.4% during the second quarter. Gradient Investments LLC now owns 436,144 shares of the company’s stock valued at $23,151,000 after purchasing an additional 14,343 shares during the period. Royal Bank of Canada raised its stake in shares of Global X MLP ETF by 7.2% during the first quarter. Royal Bank of Canada now owns 403,392 shares of the company’s stock valued at $21,733,000 after purchasing an additional 26,983 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Global X MLP ETF by 2.3% during the first quarter. Cetera Investment Advisers now owns 321,927 shares of the company’s stock valued at $17,342,000 after purchasing an additional 7,370 shares in the last quarter. Finally, Tectonic Advisors LLC bought a new stake in shares of Global X MLP ETF during the third quarter valued at about $15,247,000.

Global X MLP ETF Stock Down 2.7%

NYSEARCA MLPA traded down $1.53 on Monday, hitting $54.35. The stock had a trading volume of 286,956 shares, compared to its average volume of 235,905. The company’s 50-day moving average is $55.38 and its two-hundred day moving average is $54.26. Global X MLP ETF has a one year low of $47.01 and a one year high of $58.00. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of 14.42 and a beta of 0.49.

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.