Global X U.S. Infrastructure Development ETF (BATS:PAVE) Sets New 1-Year High – Should You Buy?

Global X U.S. Infrastructure Development ETF (BATS:PAVE) shares hit a new 52-week high on Monday . The stock traded as high as $59.28 and last traded at $59.16, with a volume of 1045563 shares. The stock had previously closed at $58.56.

Global X U.S. Infrastructure Development ETF Price Performance

The stock has a 50-day simple moving average of $56.34 and a 200-day simple moving average of $53.12. The stock has a market cap of $11.48 billion, a PE ratio of 23.34 and a beta of 1.24.

Hedge Funds Weigh In On Global X U.S. Infrastructure Development ETF

Several hedge funds and other institutional investors have recently modified their holdings of PAVE. Beaumont Financial Advisors LLC raised its holdings in shares of Global X U.S. Infrastructure Development ETF by 1.1% during the first quarter. Beaumont Financial Advisors LLC now owns 16,949 shares of the company’s stock valued at $861,000 after purchasing an additional 180 shares during the period. Gateway Wealth Partners LLC boosted its position in shares of Global X U.S. Infrastructure Development ETF by 3.7% during the 4th quarter. Gateway Wealth Partners LLC now owns 5,169 shares of the company’s stock worth $247,000 after purchasing an additional 183 shares in the last quarter. Arete Wealth Advisors LLC grew its stake in shares of Global X U.S. Infrastructure Development ETF by 3.8% in the 4th quarter. Arete Wealth Advisors LLC now owns 5,058 shares of the company’s stock valued at $242,000 after buying an additional 186 shares during the period. AIFG Consultants Ltd. grew its stake in shares of Global X U.S. Infrastructure Development ETF by 1.0% in the 4th quarter. AIFG Consultants Ltd. now owns 19,194 shares of the company’s stock valued at $917,000 after buying an additional 189 shares during the period. Finally, IFG Advisory LLC increased its position in Global X U.S. Infrastructure Development ETF by 2.3% in the 4th quarter. IFG Advisory LLC now owns 8,491 shares of the company’s stock valued at $406,000 after buying an additional 194 shares in the last quarter.

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.