Global X MLP ETF (NYSEARCA:MLPA) Reaches New 1-Year High – Still a Buy?

Global X MLP ETF (NYSEARCA:MLPA)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $57.78 and last traded at $57.5990, with a volume of 42638 shares changing hands. The stock had previously closed at $57.54.

Global X MLP ETF Stock Down 0.1%

The company has a market cap of $2.33 billion, a price-to-earnings ratio of 14.42 and a beta of 0.46. The stock has a 50 day simple moving average of $55.90 and a 200 day simple moving average of $54.60.

Hedge Funds Weigh In On Global X MLP ETF

Several large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its position in Global X MLP ETF by 7.2% in the first quarter. Royal Bank of Canada now owns 403,392 shares of the company’s stock worth $21,733,000 after acquiring an additional 26,983 shares in the last quarter. Greenspring Advisors LLC lifted its stake in shares of Global X MLP ETF by 5,502.2% in the 4th quarter. Greenspring Advisors LLC now owns 236,859 shares of the company’s stock valued at $11,466,000 after purchasing an additional 232,631 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Global X MLP ETF by 29,373.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 135,874 shares of the company’s stock worth $6,578,000 after purchasing an additional 135,413 shares during the period. Foundations Investment Advisors LLC raised its holdings in Global X MLP ETF by 4,705.6% in the 4th quarter. Foundations Investment Advisors LLC now owns 254,505 shares of the company’s stock worth $12,321,000 after acquiring an additional 249,209 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its position in shares of Global X MLP ETF by 31.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 399,223 shares of the company’s stock worth $19,326,000 after purchasing an additional 94,623 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.