Envestnet Asset Management Inc. Sells 439,681 Shares of Global X U.S. Infrastructure Development ETF (BATS:PAVE)

Envestnet Asset Management Inc. lowered its stake in shares of Global X U.S. Infrastructure Development ETF (BATS:PAVE) by 23.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,449,995 shares of the company’s stock after selling 439,681 shares during the quarter. Envestnet Asset Management Inc. owned about 0.76% of Global X U.S. Infrastructure Development ETF worth $58,594,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Sofi Wealth LLC purchased a new stake in Global X U.S. Infrastructure Development ETF in the 4th quarter worth approximately $28,000. MassMutual Private Wealth & Trust FSB purchased a new position in Global X U.S. Infrastructure Development ETF in the 4th quarter valued at $28,000. Crowley Wealth Management Inc. purchased a new position in Global X U.S. Infrastructure Development ETF in the 4th quarter valued at $28,000. Hanson & Doremus Investment Management acquired a new stake in shares of Global X U.S. Infrastructure Development ETF in the 4th quarter worth $28,000. Finally, Key Financial Inc increased its stake in shares of Global X U.S. Infrastructure Development ETF by 613.2% in the 4th quarter. Key Financial Inc now owns 756 shares of the company’s stock worth $31,000 after acquiring an additional 650 shares during the last quarter.

Global X U.S. Infrastructure Development ETF Trading Down 10.8 %

Shares of BATS:PAVE opened at $36.96 on Thursday. The business has a 50-day moving average price of $39.15 and a 200 day moving average price of $41.34. The company has a market capitalization of $7.54 billion, a price-to-earnings ratio of 21.56 and a beta of 1.21. Global X U.S. Infrastructure Development ETF has a 12-month low of $32.65 and a 12-month high of $46.18.

About Global X U.S. Infrastructure Development ETF

The Global X U.S. Infrastructure Development ETF (PAVE) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund tracks a market-cap-weighted index of US-listed companies that derive the majority of their revenue from or have a stated business purpose related to infrastructure development.