Global X Lithium & Battery Tech ETF (NYSEARCA:LIT) Sets New 12-Month Low – What’s Next?

Global X Lithium & Battery Tech ETF (NYSEARCA:LIT)’s share price hit a new 52-week low during mid-day trading on Friday. The company traded as low as $58.63 and last traded at $58.7050, with a volume of 43,710 shares changing hands. The stock had previously closed at $59.43.

Global X Lithium & Battery Tech ETF Trading Down 1.3%

The firm has a market capitalization of $1.06 billion, a P/E ratio of 16.15 and a beta of 1.03. The company’s fifty day simple moving average is $66.61 and its 200 day simple moving average is $73.99.

Hedge Funds Weigh In On Global X Lithium & Battery Tech ETF

Several hedge funds and other institutional investors have recently modified their holdings of the stock. TD Waterhouse Canada Inc. increased its position in shares of Global X Lithium & Battery Tech ETF by 18.9% during the second quarter. TD Waterhouse Canada Inc. now owns 1,453 shares of the company’s stock valued at $113,000 after buying an additional 231 shares during the period. NewEdge Advisors LLC lifted its holdings in Global X Lithium & Battery Tech ETF by 3.7% in the first quarter. NewEdge Advisors LLC now owns 7,848 shares of the company’s stock worth $583,000 after buying an additional 282 shares during the period. Parallel Advisors LLC lifted its holdings in Global X Lithium & Battery Tech ETF by 33.7% in the third quarter. Parallel Advisors LLC now owns 1,190 shares of the company’s stock worth $81,000 after buying an additional 300 shares during the period. Baird Financial Group Inc. lifted its holdings in Global X Lithium & Battery Tech ETF by 13.6% in the second quarter. Baird Financial Group Inc. now owns 3,634 shares of the company’s stock worth $284,000 after buying an additional 434 shares during the period. Finally, MADDEN SECURITIES Corp purchased a new stake in Global X Lithium & Battery Tech ETF in the third quarter worth about $35,000.

Global X Lithium & Battery Tech ETF Company Profile

Global X Lithium ETF (the Fund) seeks to provide investment results that correspond generally to the price and yield performance of the Solactive Global Lithium Index (the Index). The Index is free float adjusted, liquidity tested and market capitalization-weighted index that is designed to measure broad based equity market performance of global companies involved in the lithium industry, as defined by Structured Solutions AG. The Fund will normally invest at least 80% of its total assets in the securities of the Index and in depositary receipts based on the securities in the Index.