Global X MLP ETF (NYSEARCA:MLPA) Reaches New 52-Week High – Still a Buy?

Global X MLP ETF (NYSEARCA:MLPA)’s stock price hit a new 52-week high on Thursday . The company traded as high as $56.68 and last traded at $56.09, with a volume of 9151 shares trading hands. The stock had previously closed at $56.07.

Global X MLP ETF Price Performance

The firm has a 50 day simple moving average of $54.11 and a 200-day simple moving average of $53.26. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 14.42 and a beta of 0.45.

Institutional Investors Weigh In On Global X MLP ETF

Several large investors have recently made changes to their positions in MLPA. Goldman Sachs Group Inc. bought a new position in Global X MLP ETF during the 1st quarter valued at about $761,000. Empowered Funds LLC bought a new stake in Global X MLP ETF during the first quarter worth about $1,555,000. Cerity Partners LLC increased its holdings in shares of Global X MLP ETF by 17.1% during the second quarter. Cerity Partners LLC now owns 41,365 shares of the company’s stock worth $2,077,000 after buying an additional 6,033 shares in the last quarter. Qube Research & Technologies Ltd increased its holdings in shares of Global X MLP ETF by 94.5% during the second quarter. Qube Research & Technologies Ltd now owns 10,418 shares of the company’s stock worth $523,000 after buying an additional 5,061 shares in the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of Global X MLP ETF by 8.5% during the second quarter. NewEdge Advisors LLC now owns 89,230 shares of the company’s stock worth $4,479,000 after buying an additional 7,010 shares in the last quarter.

About Global X MLP ETF

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.