Global X Lithium & Battery Tech ETF (NYSEARCA:LIT) Hits New 52-Week High – Still a Buy?

Global X Lithium & Battery Tech ETF (NYSEARCA:LIT)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $72.50 and last traded at $72.4760, with a volume of 126058 shares. The stock had previously closed at $70.00.

Global X Lithium & Battery Tech ETF Price Performance

The stock’s 50 day moving average is $65.22 and its two-hundred day moving average is $55.71. The firm has a market capitalization of $1.66 billion, a P/E ratio of 21.25 and a beta of 1.05.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Stratos Wealth Partners LTD. grew its stake in shares of Global X Lithium & Battery Tech ETF by 13.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 6,036 shares of the company’s stock worth $392,000 after purchasing an additional 718 shares during the period. Compagnie Lombard Odier SCmA bought a new position in Global X Lithium & Battery Tech ETF during the fourth quarter worth about $240,000. ORG Wealth Partners LLC bought a new stake in shares of Global X Lithium & Battery Tech ETF in the 4th quarter valued at about $53,000. Synergy Asset Management LLC acquired a new stake in shares of Global X Lithium & Battery Tech ETF in the 4th quarter valued at approximately $577,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Global X Lithium & Battery Tech ETF by 67.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,942 shares of the company’s stock valued at $622,000 after acquiring an additional 3,614 shares during the period.

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.