Global X U.S. Infrastructure Development ETF (BATS:PAVE) Hits New 52-Week High – Time to Buy?

Shares of Global X U.S. Infrastructure Development ETF (BATS:PAVE) reached a new 52-week high on Monday . The company traded as high as $44.98 and last traded at $44.23, with a volume of 1151908 shares. The stock had previously closed at $44.77.

Global X U.S. Infrastructure Development ETF Trading Up 0.5 %

The company’s 50-day moving average is $43.25 and its two-hundred day moving average is $40.01. The stock has a market capitalization of $8.42 billion, a P/E ratio of 20.28 and a beta of 1.13.

Institutional Investors Weigh In On Global X U.S. Infrastructure Development ETF

Several large investors have recently made changes to their positions in PAVE. Bank of Montreal Can increased its position in Global X U.S. Infrastructure Development ETF by 3.0% in the 3rd quarter. Bank of Montreal Can now owns 20,077,534 shares of the company’s stock valued at $822,978,000 after acquiring an additional 586,418 shares during the period. Meitav Investment House Ltd. grew its stake in shares of Global X U.S. Infrastructure Development ETF by 9.9% in the second quarter. Meitav Investment House Ltd. now owns 2,696,368 shares of the company’s stock worth $99,905,000 after purchasing an additional 242,141 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Global X U.S. Infrastructure Development ETF by 14.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,610,146 shares of the company’s stock valued at $59,608,000 after purchasing an additional 198,255 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of Global X U.S. Infrastructure Development ETF by 19.9% during the third quarter. Commonwealth Equity Services LLC now owns 1,386,938 shares of the company’s stock valued at $57,086,000 after purchasing an additional 229,948 shares in the last quarter. Finally, First Interstate Bank lifted its holdings in Global X U.S. Infrastructure Development ETF by 47.6% in the third quarter. First Interstate Bank now owns 1,109,398 shares of the company’s stock worth $45,663,000 after purchasing an additional 357,771 shares during the period.

Global X U.S. Infrastructure Development ETF Company 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.