Meitav Investment House Ltd. Trims Stock Position in Global X U.S. Infrastructure Development ETF $PAVE

Meitav Investment House Ltd. cut its stake in shares of Global X U.S. Infrastructure Development ETF (BATS:PAVE) by 29.9% during the second quarter, HoldingsChannel.com reports. The fund owned 1,878,569 shares of the company’s stock after selling 800,000 shares during the quarter. Global X U.S. Infrastructure Development ETF makes up approximately 1.2% of Meitav Investment House Ltd.’s investment portfolio, making the stock its 24th biggest holding. Meitav Investment House Ltd.’s holdings in Global X U.S. Infrastructure Development ETF were worth $81,962,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. LPL Financial LLC boosted its stake in shares of Global X U.S. Infrastructure Development ETF by 1.2% during the first quarter. LPL Financial LLC now owns 6,854,471 shares of the company’s stock valued at $258,619,000 after purchasing an additional 78,008 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Global X U.S. Infrastructure Development ETF by 7.5% in the first quarter. Principal Financial Group Inc. now owns 3,740,600 shares of the company’s stock valued at $141,133,000 after acquiring an additional 260,800 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Global X U.S. Infrastructure Development ETF by 2.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,823,163 shares of the company’s stock valued at $68,788,000 after acquiring an additional 50,644 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Global X U.S. Infrastructure Development ETF by 9.2% in the first quarter. Envestnet Asset Management Inc. now owns 1,583,324 shares of the company’s stock valued at $59,739,000 after acquiring an additional 133,329 shares in the last quarter. Finally, Citigroup Inc. boosted its stake in Global X U.S. Infrastructure Development ETF by 2,086.2% in the first quarter. Citigroup Inc. now owns 1,325,328 shares of the company’s stock valued at $50,005,000 after acquiring an additional 1,264,705 shares in the last quarter.

Global X U.S. Infrastructure Development ETF Stock Up 15.8%

Shares of PAVE opened at $47.99 on Tuesday. The company has a market cap of $9.48 billion, a price-to-earnings ratio of 23.34 and a beta of 1.24. Global X U.S. Infrastructure Development ETF has a twelve month low of $32.65 and a twelve month high of $46.26. The company has a 50 day moving average of $46.50 and a two-hundred day moving average of $42.81.

Global X U.S. Infrastructure Development ETF 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.