Global X MLP ETF (NYSEARCA:MLPA) Sees Unusually-High Trading Volume – Time to Buy?

Global X MLP ETF (NYSEARCA:MLPA) shares saw unusually-strong trading volume on Wednesday . Approximately 88,096 shares changed hands during mid-day trading, an increase of 28% from the previous session’s volume of 68,829 shares.The stock last traded at $50.26 and had previously closed at $49.83.

Global X MLP ETF Trading Up 1.0 %

The business’s 50-day simple moving average is $49.62 and its 200-day simple moving average is $48.61. The company has a market capitalization of $1.70 billion, a PE ratio of 12.27 and a beta of 0.37.

Institutional Investors Weigh In On Global X MLP ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Evergreen Capital Management LLC acquired a new stake in Global X MLP ETF during the second quarter valued at $23,028,000. Raymond James & Associates boosted its position in Global X MLP ETF by 38.6% during the third quarter. Raymond James & Associates now owns 465,116 shares of the company’s stock worth $22,316,000 after acquiring an additional 129,449 shares during the last quarter. Strong Tower Advisory Services grew its stake in Global X MLP ETF by 383.6% during the 3rd quarter. Strong Tower Advisory Services now owns 36,420 shares of the company’s stock valued at $1,747,000 after acquiring an additional 28,889 shares in the last quarter. Blair William & Co. IL raised its holdings in Global X MLP ETF by 735.0% in the 2nd quarter. Blair William & Co. IL now owns 29,057 shares of the company’s stock valued at $1,409,000 after acquiring an additional 25,577 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its stake in Global X MLP ETF by 53.6% in the 2nd quarter. NewEdge Advisors LLC now owns 65,044 shares of the company’s stock worth $3,155,000 after purchasing an additional 22,701 shares in the last quarter.

About Global X MLP ETF

The Global X MLP ETF (MLPA) is an exchange-traded fund that is based on the Solactive MLP Infrastructure index, a market-cap-weighted index of US-listed midstream MLPs, and is structured as a C-corporation. MLPA was launched on Apr 18, 2012 and is managed by Global X.