Global X Lithium & Battery Tech ETF (NYSEARCA:LIT) Sets New 12-Month Low – What’s Next?

Shares of Global X Lithium & Battery Tech ETF (NYSEARCA:LIT) reached a new 52-week low during mid-day trading on Friday. The company traded as low as $58.63 and last traded at $58.7050, with a volume of 43,710 shares trading hands. The stock had previously closed at $59.43.

Global X Lithium & Battery Tech ETF Price Performance

The stock has a market capitalization of $1.06 billion, a P/E ratio of 16.15 and a beta of 1.03. The firm’s 50 day moving average price is $66.61 and its 200 day moving average price is $73.99.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. MADDEN SECURITIES Corp bought a new position in Global X Lithium & Battery Tech ETF during the 3rd quarter valued at approximately $35,000. Provenance Wealth Advisors LLC purchased a new position in shares of Global X Lithium & Battery Tech ETF during the third quarter valued at approximately $68,000. Parallel Advisors LLC increased its stake in shares of Global X Lithium & Battery Tech ETF by 33.7% during the third quarter. Parallel Advisors LLC now owns 1,190 shares of the company’s stock valued at $81,000 after buying an additional 300 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Global X Lithium & Battery Tech ETF during the third quarter valued at approximately $86,000. Finally, TD Waterhouse Canada Inc. raised its holdings in shares of Global X Lithium & Battery Tech ETF by 18.9% during the second quarter. TD Waterhouse Canada Inc. now owns 1,453 shares of the company’s stock valued at $113,000 after acquiring an additional 231 shares in the last quarter.

About Global X Lithium & Battery Tech ETF

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.