Global X Lithium & Battery Tech ETF (NYSEARCA:LIT) Reaches New 12-Month High – Here’s Why

Global X Lithium & Battery Tech ETF (NYSEARCA:LIT)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $90.44 and last traded at $90.39, with a volume of 35855 shares traded. The stock had previously closed at $88.45.

Global X Lithium & Battery Tech ETF Trading Up 0.7%

The company’s 50 day moving average price is $76.52 and its 200-day moving average price is $69.93. The company has a market capitalization of $2.21 billion, a PE ratio of 21.25 and a beta of 1.03.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nalls Sherbakoff Group LLC acquired a new stake in Global X Lithium & Battery Tech ETF during the fourth quarter worth about $29,000. TD Waterhouse Canada Inc. lifted its stake in shares of Global X Lithium & Battery Tech ETF by 103.4% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 663 shares of the company’s stock valued at $38,000 after purchasing an additional 337 shares in the last quarter. AlphaCore Capital LLC grew its holdings in shares of Global X Lithium & Battery Tech ETF by 333.3% during the 4th quarter. AlphaCore Capital LLC now owns 650 shares of the company’s stock worth $42,000 after purchasing an additional 500 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of Global X Lithium & Battery Tech ETF during the 4th quarter worth about $53,000. Finally, Parallel Advisors LLC increased its position in Global X Lithium & Battery Tech ETF by 58.9% during the 4th quarter. Parallel Advisors LLC now owns 985 shares of the company’s stock worth $64,000 after purchasing an additional 365 shares in the last quarter.

Global X Lithium & Battery Tech ETF Company Profile

Global X Lithium ETF (the Fund) seeks to provide investment results that correspond generally to the price and yield performance of the Solactive Global Lithium Index (the Index). The Index is free float adjusted, liquidity tested and market capitalization-weighted index that is designed to measure broad based equity market performance of global companies involved in the lithium industry, as defined by Structured Solutions AG. The Fund will normally invest at least 80% of its total assets in the securities of the Index and in depositary receipts based on the securities in the Index.