Steelhead Wealth Management LLC Makes New Investment in Global X U.S. Infrastructure Development ETF $PAVE

Steelhead Wealth Management LLC purchased a new position in shares of Global X U.S. Infrastructure Development ETF (BATS:PAVE) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 52,836 shares of the company’s stock, valued at approximately $2,684,000. Global X U.S. Infrastructure Development ETF makes up 1.4% of Steelhead Wealth Management LLC’s investment portfolio, making the stock its 17th largest position.

Several other institutional investors have also made changes to their positions in PAVE. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Global X U.S. Infrastructure Development ETF by 43.3% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 8,938,139 shares of the company’s stock worth $454,147,000 after buying an additional 2,699,000 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Global X U.S. Infrastructure Development ETF by 30.5% in the fourth quarter. JPMorgan Chase & Co. now owns 4,736,398 shares of the company’s stock valued at $226,353,000 after acquiring an additional 1,106,276 shares during the last quarter. Bank of America Corp DE lifted its stake in Global X U.S. Infrastructure Development ETF by 3.7% in the first quarter. Bank of America Corp DE now owns 25,499,439 shares of the company’s stock valued at $1,295,627,000 after acquiring an additional 903,562 shares during the last quarter. Bank of Montreal Can grew its position in Global X U.S. Infrastructure Development ETF by 3.7% in the fourth quarter. Bank of Montreal Can now owns 24,643,304 shares of the company’s stock worth $1,177,704,000 after acquiring an additional 868,412 shares in the last quarter. Finally, EP Wealth Advisors LLC bought a new stake in Global X U.S. Infrastructure Development ETF in the fourth quarter worth approximately $35,769,000.

Global X U.S. Infrastructure Development ETF Price Performance

Shares of PAVE opened at $56.36 on Monday. The company’s fifty day moving average is $57.13 and its 200-day moving average is $54.73. Global X U.S. Infrastructure Development ETF has a 12 month low of $44.28 and a 12 month high of $60.43. The firm has a market cap of $11.13 billion, a price-to-earnings ratio of 23.34 and a beta of 1.24.

Global X U.S. Infrastructure Development ETF Profile

The Global X U.S. Infrastructure Development ETF (PAVE) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund tracks a market-cap-weighted index of US-listed companies that derive the majority of their revenue from or have a stated business purpose related to infrastructure development. PAVE was launched on Mar 6, 2017 and is managed by Global X.