Global X Autonomous & Electric Vehicles ETF (NASDAQ:DRIV) Stock Crosses Above 200 Day Moving Average – Here’s Why

Shares of Global X Autonomous & Electric Vehicles ETF (NASDAQ:DRIV) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $32.91 and traded as high as $42.57. Global X Autonomous & Electric Vehicles ETF shares last traded at $42.09, with a volume of 97,111 shares changing hands.

Global X Autonomous & Electric Vehicles ETF Trading Down 7.9%

The company’s fifty day moving average is $36.72 and its 200 day moving average is $33.04. The company has a market cap of $414.78 million, a P/E ratio of -137.93 and a beta of 1.45.

Hedge Funds Weigh In On Global X Autonomous & Electric Vehicles ETF

Several institutional investors and hedge funds have recently made changes to their positions in DRIV. Farther Finance Advisors LLC grew its holdings in Global X Autonomous & Electric Vehicles ETF by 802.2% in the 4th quarter. Farther Finance Advisors LLC now owns 2,075 shares of the technology company’s stock worth $61,000 after acquiring an additional 1,845 shares during the last quarter. Strive Financial Group LLC bought a new stake in Global X Autonomous & Electric Vehicles ETF in the 4th quarter worth $80,000. Ameriprise Financial Inc. bought a new stake in Global X Autonomous & Electric Vehicles ETF in the 3rd quarter worth $230,000. Finally, Jones Financial Companies Lllp grew its holdings in Global X Autonomous & Electric Vehicles ETF by 261.2% in the 1st quarter. Jones Financial Companies Lllp now owns 13,107 shares of the technology company’s stock worth $277,000 after acquiring an additional 9,478 shares during the last quarter. Institutional investors own 80.78% of the company’s stock.

About Global X Autonomous & Electric Vehicles ETF

The Global X Autonomous & Electric Vehicles ETF (DRIV) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund tracks an index that uses artificial intelligence to select global stocks involved in the development, production, or supporting technology of autonomous and electronic vehicles. DRIV was launched on Apr 13, 2018 and is issued by Global X.