Global X Lithium & Battery Tech ETF (NYSEARCA:LIT) Sets New 1-Year High – What’s Next?

Global X Lithium & Battery Tech ETF (NYSEARCA:LIT) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $90.44 and last traded at $90.39, with a volume of 35855 shares. The stock had previously closed at $88.45.

Global X Lithium & Battery Tech ETF Trading Up 3.2%

The stock’s fifty day moving average is $75.89 and its two-hundred day moving average is $69.46. The company has a market capitalization of $2.24 billion, a PE ratio of 21.25 and a beta of 1.03.

Institutional Investors Weigh In On Global X Lithium & Battery Tech ETF

A number of institutional investors and hedge funds have recently modified their holdings of the company. South Shore Capital Advisors purchased a new stake in Global X Lithium & Battery Tech ETF in the fourth quarter valued at approximately $616,000. Moran Wealth Management LLC raised its stake in Global X Lithium & Battery Tech ETF by 28.0% in the fourth quarter. Moran Wealth Management LLC now owns 31,812 shares of the company’s stock valued at $2,063,000 after purchasing an additional 6,951 shares in the last quarter. JPMorgan Chase & Co. grew its position in Global X Lithium & Battery Tech ETF by 107.5% during the third quarter. JPMorgan Chase & Co. now owns 25,989 shares of the company’s stock valued at $1,478,000 after acquiring an additional 13,466 shares during the last quarter. Belpointe Asset Management LLC bought a new position in shares of Global X Lithium & Battery Tech ETF in the third quarter worth approximately $607,000. Finally, Primoris Wealth Advisors LLC purchased a new stake in Global X Lithium & Battery Tech ETF in the fourth quarter worth $675,000.

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.