Pinnacle Associates Ltd. Has $3.97 Million Holdings in Global X MLP ETF $MLPA

Pinnacle Associates Ltd. cut its holdings in Global X MLP ETF (NYSEARCA:MLPA) by 3.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 79,000 shares of the company’s stock after selling 3,012 shares during the period. Pinnacle Associates Ltd. owned approximately 0.22% of Global X MLP ETF worth $3,966,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Ashton Thomas Private Wealth LLC grew its stake in shares of Global X MLP ETF by 7.2% in the second quarter. Ashton Thomas Private Wealth LLC now owns 77,526 shares of the company’s stock valued at $3,892,000 after acquiring an additional 5,200 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Global X MLP ETF by 3.7% in the second quarter. Envestnet Asset Management Inc. now owns 494,993 shares of the company’s stock valued at $24,849,000 after acquiring an additional 17,433 shares in the last quarter. Legacy Wealth Asset Management LLC grew its stake in shares of Global X MLP ETF by 13.2% in the second quarter. Legacy Wealth Asset Management LLC now owns 193,665 shares of the company’s stock valued at $9,722,000 after acquiring an additional 22,649 shares in the last quarter. Stephens Inc. AR grew its stake in shares of Global X MLP ETF by 2.0% in the second quarter. Stephens Inc. AR now owns 110,886 shares of the company’s stock valued at $5,566,000 after acquiring an additional 2,155 shares in the last quarter. Finally, Latitude Advisors LLC acquired a new position in shares of Global X MLP ETF in the second quarter valued at about $287,000.

Global X MLP ETF Stock Performance

MLPA stock opened at $48.05 on Friday. The company has a market capitalization of $1.80 billion, a PE ratio of 14.42 and a beta of 0.64. Global X MLP ETF has a 52 week low of $45.09 and a 52 week high of $54.53. The company’s 50-day simple moving average is $48.59 and its 200 day simple moving average is $49.49.

Global X MLP ETF Profile

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.