Global X MLP ETF (NYSEARCA:MLPA) Hits New 52-Week High – Here’s Why

Global X MLP ETF (NYSEARCA:MLPA) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $54.72 and last traded at $54.68, with a volume of 461249 shares. The stock had previously closed at $53.92.

Global X MLP ETF Trading Up 1.1%

The firm has a market cap of $2.14 billion, a PE ratio of 14.42 and a beta of 0.64. The business has a fifty day moving average price of $52.22 and a 200 day moving average price of $49.77.

Global X MLP ETF Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 12th. Investors of record on Monday, February 9th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 7.3%. This is a positive change from Global X MLP ETF’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend was Monday, February 9th.

Institutional Trading of Global X MLP ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Clean Yield Group purchased a new stake in shares of Global X MLP ETF during the 3rd quarter worth approximately $26,000. Smartleaf Asset Management LLC purchased a new position in shares of Global X MLP ETF in the 3rd quarter valued at $46,000. Private Trust Co. NA raised its stake in Global X MLP ETF by 39.2% during the 3rd quarter. Private Trust Co. NA now owns 1,066 shares of the company’s stock worth $52,000 after acquiring an additional 300 shares in the last quarter. NBC Securities Inc. lifted its position in Global X MLP ETF by 9.7% in the fourth quarter. NBC Securities Inc. now owns 2,683 shares of the company’s stock valued at $130,000 after acquiring an additional 238 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Global X MLP ETF by 541.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,957 shares of the company’s stock valued at $143,000 after acquiring an additional 2,496 shares during the last quarter.

Global X MLP ETF Company 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.