Kovack Advisors Inc. Cuts Stock Holdings in Global X U.S. Infrastructure Development ETF (BATS:PAVE)

Kovack Advisors Inc. lowered its stake in shares of Global X U.S. Infrastructure Development ETF (BATS:PAVE) by 2.2% during the first quarter, Holdings Channel reports. The fund owned 11,416 shares of the company’s stock after selling 261 shares during the period. Kovack Advisors Inc.’s holdings in Global X U.S. Infrastructure Development ETF were worth $431,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Pinnacle Associates Ltd. increased its position in shares of Global X U.S. Infrastructure Development ETF by 4.3% during the first quarter. Pinnacle Associates Ltd. now owns 9,945 shares of the company’s stock worth $375,000 after acquiring an additional 412 shares during the period. Quadrant Private Wealth Management LLC increased its position in shares of Global X U.S. Infrastructure Development ETF by 0.6% during the first quarter. Quadrant Private Wealth Management LLC now owns 160,338 shares of the company’s stock worth $6,050,000 after acquiring an additional 934 shares during the period. Financial Partners Group Inc increased its position in shares of Global X U.S. Infrastructure Development ETF by 15.1% during the first quarter. Financial Partners Group Inc now owns 166,806 shares of the company’s stock worth $6,294,000 after acquiring an additional 21,890 shares during the period. Jackson Grant Investment Advisers Inc. increased its position in shares of Global X U.S. Infrastructure Development ETF by 58.4% during the first quarter. Jackson Grant Investment Advisers Inc. now owns 3,749 shares of the company’s stock worth $141,000 after acquiring an additional 1,382 shares during the period. Finally, Choreo LLC increased its position in shares of Global X U.S. Infrastructure Development ETF by 1.6% during the first quarter. Choreo LLC now owns 18,317 shares of the company’s stock worth $691,000 after acquiring an additional 281 shares during the period.

Global X U.S. Infrastructure Development ETF Trading Up 13.1%

Global X U.S. Infrastructure Development ETF stock opened at $46.87 on Friday. Global X U.S. Infrastructure Development ETF has a twelve month low of $32.65 and a twelve month high of $46.26. The stock’s fifty day simple moving average is $43.31 and its 200-day simple moving average is $40.83. The firm has a market capitalization of $9.26 billion, a P/E ratio of 23.34 and a beta of 1.24.

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.