Global X U.S. Infrastructure Development ETF (BATS:PAVE) Stock Price Breaks Above Fifty Day Moving Average – Here’s Why

Global X U.S. Infrastructure Development ETF (BATS:PAVE)’s stock price crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $53.73 and traded as high as $54.61. Global X U.S. Infrastructure Development ETF shares last traded at $54.49, with a volume of 1,380,618 shares changing hands.

Global X U.S. Infrastructure Development ETF Price Performance

The company has a market capitalization of $10.57 billion, a PE ratio of 23.34 and a beta of 1.24. The firm has a 50-day moving average of $53.68 and a 200 day moving average of $54.70.

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

Several hedge funds and other institutional investors have recently bought and sold shares of PAVE. Beaumont Financial Advisors LLC raised its holdings in Global X U.S. Infrastructure Development ETF by 1.1% during the 1st quarter. Beaumont Financial Advisors LLC now owns 16,949 shares of the company’s stock valued at $861,000 after buying an additional 180 shares during the period. Stephens Inc. AR boosted its stake in Global X U.S. Infrastructure Development ETF by 1.4% during the first quarter. Stephens Inc. AR now owns 14,302 shares of the company’s stock worth $727,000 after buying an additional 194 shares during the period. Altus Wealth Group LLC boosted its stake in Global X U.S. Infrastructure Development ETF by 2.6% during the first quarter. Altus Wealth Group LLC now owns 7,850 shares of the company’s stock worth $399,000 after buying an additional 200 shares during the period. Willner & Heller LLC increased its position in Global X U.S. Infrastructure Development ETF by 1.2% during the third quarter. Willner & Heller LLC now owns 17,721 shares of the company’s stock valued at $930,000 after acquiring an additional 208 shares during the last quarter. Finally, Castleview Partners LLC increased its position in Global X U.S. Infrastructure Development ETF by 2.1% during the third quarter. Castleview Partners LLC now owns 11,082 shares of the company’s stock valued at $582,000 after acquiring an additional 224 shares during the last quarter.

Global X U.S. Infrastructure Development ETF Company Profile

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.