Global X MLP & Energy Infrastructure ETF (NYSEARCA:MLPX) Reaches New 12-Month High – Time to Buy?

Global X MLP & Energy Infrastructure ETF (NYSEARCA:MLPX) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $68.04 and last traded at $66.69, with a volume of 3312 shares trading hands. The stock had previously closed at $66.05.

Global X MLP & Energy Infrastructure ETF Stock Performance

The business’s 50-day moving average is $61.96 and its 200-day moving average is $57.01. The company has a market capitalization of $1.88 billion, a PE ratio of 18.89 and a beta of 0.54.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Evergreen Capital Management LLC purchased a new position in shares of Global X MLP & Energy Infrastructure ETF in the 2nd quarter worth about $22,083,000. Icon Wealth Advisors LLC bought a new stake in Global X MLP & Energy Infrastructure ETF during the 3rd quarter valued at about $6,025,000. Envestnet Asset Management Inc. raised its holdings in Global X MLP & Energy Infrastructure ETF by 25.0% in the second quarter. Envestnet Asset Management Inc. now owns 413,623 shares of the company’s stock worth $21,115,000 after buying an additional 82,703 shares during the last quarter. Menlo Advisors LLC lifted its stake in shares of Global X MLP & Energy Infrastructure ETF by 1,302.3% in the third quarter. Menlo Advisors LLC now owns 81,402 shares of the company’s stock worth $4,430,000 after buying an additional 75,597 shares in the last quarter. Finally, Key Client Fiduciary Advisors LLC purchased a new stake in shares of Global X MLP & Energy Infrastructure ETF during the fourth quarter valued at approximately $2,571,000.

About Global X MLP & Energy Infrastructure ETF

The Global X MLP & Energy Infrastructure ETF (MLPX) is an exchange-traded fund that mostly invests in energy equity. The fund tracks an index of MLPs and companies engaged in energy infrastructure. The ETF is structured as an open-ended fund. MLPX was launched on Aug 7, 2013 and is managed by Global X.