Global X Alternative Income ETF (NASDAQ:ALTY) Shares Up 0.5% – Should You Buy?

Global X Alternative Income ETF (NASDAQ:ALTY)’s share price shot up 0.5% on Wednesday . The stock traded as high as $12.05 and last traded at $12.03. 24,889 shares traded hands during mid-day trading, an increase of 47% from the average session volume of 16,980 shares. The stock had previously closed at $11.97.

Global X Alternative Income ETF Price Performance

The company has a fifty day moving average of $11.88 and a two-hundred day moving average of $11.72. The stock has a market capitalization of $38.62 million, a P/E ratio of 17.85 and a beta of 0.69.

Global X Alternative Income ETF Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Thursday, November 13th. Shareholders of record on Wednesday, November 5th were issued a $0.0755 dividend. This represents a c) dividend on an annualized basis and a yield of 7.5%. The ex-dividend date of this dividend was Wednesday, November 5th.

Institutional Trading of Global X Alternative Income ETF

A number of institutional investors and hedge funds have recently modified their holdings of the business. Truist Financial Corp grew its position in shares of Global X Alternative Income ETF by 14.8% during the 2nd quarter. Truist Financial Corp now owns 17,507 shares of the company’s stock valued at $204,000 after buying an additional 2,252 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Global X Alternative Income ETF by 58.7% in the first quarter. Envestnet Asset Management Inc. now owns 43,674 shares of the company’s stock worth $511,000 after acquiring an additional 16,149 shares during the last quarter. Cetera Investment Advisers lifted its holdings in Global X Alternative Income ETF by 46.6% in the first quarter. Cetera Investment Advisers now owns 16,589 shares of the company’s stock worth $194,000 after acquiring an additional 5,277 shares during the last quarter. LPL Financial LLC boosted its stake in Global X Alternative Income ETF by 11.7% in the first quarter. LPL Financial LLC now owns 403,493 shares of the company’s stock valued at $4,725,000 after acquiring an additional 42,152 shares during the period. Finally, Kingswood Wealth Advisors LLC bought a new position in shares of Global X Alternative Income ETF during the second quarter valued at approximately $192,000.

About Global X Alternative Income ETF

The Global X Alternative Income ETF (ALTY) is an exchange-traded fund that is based on the Indxx SuperDividend Alternatives index. The fund tracks an index consisting of a variety of assets such as equity, debt securities and covered calls. Selected based on high dividend yield and low volatility. ALTY was launched on Jul 14, 2015 and is managed by Global X.