Global X Lithium & Battery Tech ETF (NYSEARCA:LIT) Reaches New 12-Month High – What’s Next?

Global X Lithium & Battery Tech ETF (NYSEARCA:LIT) shares reached a new 52-week high on Friday . The company traded as high as $78.23 and last traded at $78.05, with a volume of 53900 shares traded. The stock had previously closed at $76.74.

Global X Lithium & Battery Tech ETF Price Performance

The firm has a market capitalization of $1.82 billion, a P/E ratio of 21.25 and a beta of 0.98. The stock’s 50-day simple moving average is $72.43 and its two-hundred day simple moving average is $66.63.

Hedge Funds Weigh In On Global X Lithium & Battery Tech ETF

Hedge funds have recently modified their holdings of the company. Nalls Sherbakoff Group LLC bought a new position in shares of Global X Lithium & Battery Tech ETF in the fourth quarter worth approximately $29,000. Total Investment Management Inc. purchased a new position in shares of Global X Lithium & Battery Tech ETF in the second quarter worth $33,000. TD Waterhouse Canada Inc. lifted its holdings in shares of Global X Lithium & Battery Tech ETF by 103.4% in the third quarter. TD Waterhouse Canada Inc. now owns 663 shares of the company’s stock worth $38,000 after buying an additional 337 shares in the last quarter. AlphaCore Capital LLC lifted its holdings in shares of Global X Lithium & Battery Tech ETF by 333.3% in the fourth quarter. AlphaCore Capital LLC now owns 650 shares of the company’s stock worth $42,000 after buying an additional 500 shares in the last quarter. Finally, Private Trust Co. NA purchased a new position in shares of Global X Lithium & Battery Tech ETF in the third quarter worth $52,000.

About Global X Lithium & Battery Tech ETF

Global X Lithium ETF (the Fund) seeks to provide investment results that correspond generally to the price and yield performance of the Solactive Global Lithium Index (the Index). The Index is free float adjusted, liquidity tested and market capitalization-weighted index that is designed to measure broad based equity market performance of global companies involved in the lithium industry, as defined by Structured Solutions AG. The Fund will normally invest at least 80% of its total assets in the securities of the Index and in depositary receipts based on the securities in the Index.