Global X MLP ETF (NYSEARCA:MLPA) Sees Large Volume Increase – Still a Buy?

Shares of Global X MLP ETF (NYSEARCA:MLPA) saw unusually-strong trading volume on Wednesday . Approximately 88,096 shares traded hands during trading, an increase of 28% from the previous session’s volume of 68,829 shares.The stock last traded at $50.26 and had previously closed at $49.83.

Global X MLP ETF Stock Performance

The firm has a market capitalization of $1.70 billion, a P/E ratio of 12.27 and a beta of 0.37. The company has a 50 day simple moving average of $49.73 and a two-hundred day simple moving average of $48.63.

Institutional Trading of Global X MLP ETF

Several hedge funds and other institutional investors have recently bought and sold shares of MLPA. Friedenthal Financial increased its stake in Global X MLP ETF by 2.1% in the third quarter. Friedenthal Financial now owns 12,060 shares of the company’s stock worth $579,000 after purchasing an additional 251 shares during the period. MONECO Advisors LLC increased its stake in Global X MLP ETF by 3.7% in the third quarter. MONECO Advisors LLC now owns 7,255 shares of the company’s stock worth $348,000 after purchasing an additional 261 shares during the period. Wiser Advisor Group LLC increased its stake in Global X MLP ETF by 3.0% in the third quarter. Wiser Advisor Group LLC now owns 12,669 shares of the company’s stock worth $608,000 after purchasing an additional 373 shares during the period. J.W. Cole Advisors Inc. increased its stake in Global X MLP ETF by 4.2% in the second quarter. J.W. Cole Advisors Inc. now owns 12,835 shares of the company’s stock worth $622,000 after purchasing an additional 523 shares during the period. Finally, Capital Advisors Ltd. LLC increased its stake in Global X MLP ETF by 94.4% in the third quarter. Capital Advisors Ltd. LLC now owns 1,079 shares of the company’s stock worth $52,000 after purchasing an additional 524 shares during the period.

Global X MLP ETF Company Profile

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.