Global X MLP ETF (NYSEARCA:MLPA) Hits New 12-Month High – Should You Buy?

Global X MLP ETF (NYSEARCA:MLPA)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $50.19 and last traded at $50.13, with a volume of 54323 shares changing hands. The stock had previously closed at $49.62.

Global X MLP ETF Stock Performance

The company has a market capitalization of $1.72 billion, a P/E ratio of 12.27 and a beta of 0.37. The firm’s fifty day moving average is $48.28 and its 200-day moving average is $47.90.

Institutional Investors Weigh In On Global X MLP ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. LPL Financial LLC grew its holdings in shares of Global X MLP ETF by 1.6% during the 2nd quarter. LPL Financial LLC now owns 684,407 shares of the company’s stock valued at $33,194,000 after purchasing an additional 10,686 shares during the last quarter. Gradient Investments LLC grew its holdings in Global X MLP ETF by 18.6% during the 2nd quarter. Gradient Investments LLC now owns 616,720 shares of the company’s stock worth $29,911,000 after acquiring an additional 96,852 shares during the last quarter. Evergreen Capital Management LLC bought a new stake in Global X MLP ETF during the 2nd quarter worth approximately $23,028,000. Raymond James & Associates grew its holdings in Global X MLP ETF by 38.6% during the 3rd quarter. Raymond James & Associates now owns 465,116 shares of the company’s stock worth $22,316,000 after acquiring an additional 129,449 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in Global X MLP ETF by 0.3% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 319,424 shares of the company’s stock worth $15,326,000 after acquiring an additional 844 shares during the last quarter.

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.