Global X U.S. Infrastructure Development ETF (BATS:PAVE) Reaches New 1-Year High – Here’s Why

Global X U.S. Infrastructure Development ETF (BATS:PAVE) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $57.62 and last traded at $57.37, with a volume of 3169684 shares traded. The stock had previously closed at $56.19.

Global X U.S. Infrastructure Development ETF Trading Down 2.6%

The firm has a market capitalization of $11.22 billion, a PE ratio of 23.34 and a beta of 1.24. The firm’s fifty day moving average price is $53.25 and its 200 day moving average price is $51.04.

Institutional Investors Weigh In On Global X U.S. Infrastructure Development ETF

Several hedge funds have recently added to or reduced their stakes in the business. Root Financial Partners LLC purchased a new position in shares of Global X U.S. Infrastructure Development ETF during the 3rd quarter valued at about $25,000. Darwin Wealth Management LLC purchased a new stake in shares of Global X U.S. Infrastructure Development ETF in the second quarter worth about $25,000. eCIO Inc. acquired a new stake in Global X U.S. Infrastructure Development ETF during the fourth quarter worth about $27,000. NBT Bank N A NY acquired a new stake in Global X U.S. Infrastructure Development ETF during the first quarter worth about $29,000. Finally, Clearstead Trust LLC purchased a new position in Global X U.S. Infrastructure Development ETF during the first quarter valued at approximately $31,000.

About Global X U.S. Infrastructure Development ETF

The Global X U.S. Infrastructure Development ETF (PAVE) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund tracks a market-cap-weighted index of US-listed companies that derive the majority of their revenue from or have a stated business purpose related to infrastructure development. PAVE was launched on Mar 6, 2017 and is managed by Global X.