PMG Wealth Management Inc. Invests $3.92 Million in Global X U.S. Infrastructure Development ETF $PAVE

PMG Wealth Management Inc. bought a new position in shares of Global X U.S. Infrastructure Development ETF (BATS:PAVE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 89,994 shares of the company’s stock, valued at approximately $3,922,000. Global X U.S. Infrastructure Development ETF makes up approximately 3.2% of PMG Wealth Management Inc.’s portfolio, making the stock its 11th largest position.

Several other institutional investors have also recently added to or reduced their stakes in PAVE. Citigroup Inc. lifted its position in shares of Global X U.S. Infrastructure Development ETF by 2,086.2% during the 1st quarter. Citigroup Inc. now owns 1,325,328 shares of the company’s stock worth $50,005,000 after buying an additional 1,264,705 shares during the last quarter. CX Institutional raised its stake in Global X U.S. Infrastructure Development ETF by 265.5% during the 1st quarter. CX Institutional now owns 461,893 shares of the company’s stock worth $17,427,000 after acquiring an additional 335,530 shares in the last quarter. Principal Financial Group Inc. raised its stake in Global X U.S. Infrastructure Development ETF by 7.5% during the 1st quarter. Principal Financial Group Inc. now owns 3,740,600 shares of the company’s stock worth $141,133,000 after acquiring an additional 260,800 shares in the last quarter. Marshall Financial Group LLC acquired a new position in Global X U.S. Infrastructure Development ETF in the first quarter valued at $7,809,000. Finally, HighTower Advisors LLC boosted its stake in Global X U.S. Infrastructure Development ETF by 35.0% in the first quarter. HighTower Advisors LLC now owns 768,330 shares of the company’s stock valued at $28,989,000 after acquiring an additional 199,384 shares in the last quarter.

Global X U.S. Infrastructure Development ETF Stock Up 13.6%

BATS:PAVE opened at $47.10 on Friday. The company has a market capitalization of $9.31 billion, a PE ratio of 23.34 and a beta of 1.24. Global X U.S. Infrastructure Development ETF has a 52-week low of $32.65 and a 52-week high of $46.26. The stock’s 50 day moving average price is $46.31 and its 200 day moving average price is $42.39.

About Global X U.S. Infrastructure Development ETF

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.