Global X Lithium & Battery Tech ETF (NYSEARCA:LIT) Reaches New 52-Week High – Time to Buy?

Global X Lithium & Battery Tech ETF (NYSEARCA:LIT)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $85.11 and last traded at $84.95, with a volume of 372637 shares trading hands. The stock had previously closed at $83.79.

Global X Lithium & Battery Tech ETF Stock Performance

The company has a 50 day simple moving average of $74.83 and a two-hundred day simple moving average of $68.62. The firm has a market cap of $1.99 billion, a PE ratio of 21.25 and a beta of 0.98.

Institutional Trading of Global X Lithium & Battery Tech ETF

Several large investors have recently added to or reduced their stakes in LIT. JPMorgan Chase & Co. grew its stake in Global X Lithium & Battery Tech ETF by 47.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 12,523 shares of the company’s stock valued at $481,000 after purchasing an additional 4,005 shares during the last quarter. Sei Investments Co. acquired a new position in shares of Global X Lithium & Battery Tech ETF in the 2nd quarter valued at about $240,000. Betterment LLC acquired a new position in shares of Global X Lithium & Battery Tech ETF in the 2nd quarter valued at about $206,000. Ameriprise Financial Inc. lifted its holdings in shares of Global X Lithium & Battery Tech ETF by 10.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 39,540 shares of the company’s stock valued at $1,492,000 after buying an additional 3,839 shares during the period. Finally, Private Trust Co. NA acquired a new position in shares of Global X Lithium & Battery Tech ETF in the 3rd quarter valued at about $52,000.

Global X Lithium & Battery Tech ETF Company Profile

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.