Global X MLP ETF (NYSEARCA:MLPA) Reaches New 52-Week High – Still a Buy?

Global X MLP ETF (NYSEARCA:MLPA) hit a new 52-week high on Wednesday . The stock traded as high as $54.12 and last traded at $53.80, with a volume of 209647 shares changing hands. The stock had previously closed at $53.57.

Global X MLP ETF Stock Performance

The company has a fifty day simple moving average of $51.13 and a two-hundred day simple moving average of $49.15. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 12.27 and a beta of 0.37.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Paladin Wealth LLC acquired a new stake in shares of Global X MLP ETF in the 3rd quarter valued at $40,000. Capital Advisors Ltd. LLC boosted its stake in Global X MLP ETF by 94.4% in the third quarter. Capital Advisors Ltd. LLC now owns 1,079 shares of the company’s stock valued at $52,000 after buying an additional 524 shares in the last quarter. Hara Capital LLC bought a new position in Global X MLP ETF in the third quarter valued at about $59,000. Heck Capital Advisors LLC acquired a new position in Global X MLP ETF during the fourth quarter worth about $61,000. Finally, Advisors Asset Management Inc. acquired a new position in Global X MLP ETF during the third quarter worth about $65,000.

Global X MLP ETF Company Profile

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.