Global X Alternative Income ETF (NASDAQ:ALTY) Stock Price Up 0.5% – Here’s Why

Global X Alternative Income ETF (NASDAQ:ALTY)’s stock price rose 0.5% during mid-day trading on Wednesday . The company traded as high as $12.05 and last traded at $12.03. Approximately 24,889 shares changed hands during mid-day trading, an increase of 47% from the average daily volume of 16,980 shares. The stock had previously closed at $11.97.

Global X Alternative Income ETF Trading Up 0.2%

The company has a 50-day simple moving average of $11.89 and a 200 day simple moving average of $11.72. The firm has a market cap of $38.70 million, a PE ratio of 17.85 and a beta of 0.69.

Global X Alternative Income ETF Announces Dividend

The company also recently declared a monthly dividend, which was paid on Thursday, November 13th. Investors of record on Wednesday, November 5th were issued a dividend of $0.0755 per share. The ex-dividend date of this dividend was Wednesday, November 5th. This represents a c) dividend on an annualized basis and a yield of 7.5%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Kingswood Wealth Advisors LLC boosted its stake in shares of Global X Alternative Income ETF by 273.1% during the 3rd quarter. Kingswood Wealth Advisors LLC now owns 61,341 shares of the company’s stock worth $728,000 after acquiring an additional 44,899 shares in the last quarter. LPL Financial LLC raised its holdings in Global X Alternative Income ETF by 11.7% in the 1st quarter. LPL Financial LLC now owns 403,493 shares of the company’s stock worth $4,725,000 after purchasing an additional 42,152 shares during the period. Kingsview Wealth Management LLC purchased a new position in Global X Alternative Income ETF during the third quarter worth approximately $367,000. Envestnet Asset Management Inc. grew its holdings in Global X Alternative Income ETF by 58.7% in the first quarter. Envestnet Asset Management Inc. now owns 43,674 shares of the company’s stock valued at $511,000 after purchasing an additional 16,149 shares during the period. Finally, Truist Financial Corp grew its holdings in Global X Alternative Income ETF by 57.0% in the third quarter. Truist Financial Corp now owns 27,480 shares of the company’s stock valued at $326,000 after purchasing an additional 9,973 shares during the period.

Global X Alternative Income ETF Company Profile

The Global X Alternative Income ETF (ALTY) is an exchange-traded fund that is based on the Indxx SuperDividend Alternatives index. The fund tracks an index consisting of a variety of assets such as equity, debt securities and covered calls. Selected based on high dividend yield and low volatility. ALTY was launched on Jul 14, 2015 and is managed by Global X.