Global X MLP ETF (NYSEARCA:MLPA) Sets New 12-Month High – Still a Buy?

Shares of Global X MLP ETF (NYSEARCA:MLPA) reached a new 52-week high during trading on Thursday . The stock traded as high as $54.05 and last traded at $53.61, with a volume of 246542 shares traded. The stock had previously closed at $52.85.

Global X MLP ETF Price Performance

The stock has a 50 day moving average of $50.91 and a two-hundred day moving average of $49.03. The stock has a market capitalization of $1.79 billion, a PE ratio of 12.27 and a beta of 0.37.

Hedge Funds Weigh In On Global X MLP ETF

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