Global X U.S. Infrastructure Development ETF (BATS:PAVE) Hits New 52-Week High – What’s Next?

Global X U.S. Infrastructure Development ETF (BATS:PAVE) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $59.01 and last traded at $58.68, with a volume of 201813 shares. The stock had previously closed at $57.76.

Global X U.S. Infrastructure Development ETF Stock Performance

The firm’s 50 day simple moving average is $55.82 and its 200-day simple moving average is $52.77. The company has a market cap of $11.56 billion, a price-to-earnings ratio of 23.34 and a beta of 1.24.

Institutional Investors Weigh In On Global X U.S. Infrastructure Development ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in PAVE. Beaumont Financial Advisors LLC boosted its position in shares of 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 acquiring an additional 180 shares during the last quarter. 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 valued at $247,000 after acquiring an additional 183 shares during the last quarter. Arete Wealth Advisors LLC boosted its position in shares of Global X U.S. Infrastructure Development ETF by 3.8% during the 4th quarter. Arete Wealth Advisors LLC now owns 5,058 shares of the company’s stock valued at $242,000 after acquiring an additional 186 shares during the last quarter. AIFG Consultants Ltd. boosted its position in shares of Global X U.S. Infrastructure Development ETF by 1.0% during the 4th quarter. AIFG Consultants Ltd. now owns 19,194 shares of the company’s stock valued at $917,000 after acquiring an additional 189 shares during the last quarter. Finally, IFG Advisory LLC boosted its position in shares of Global X U.S. Infrastructure Development ETF by 2.3% during the 4th quarter. IFG Advisory LLC now owns 8,491 shares of the company’s stock valued at $406,000 after acquiring an additional 194 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.