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 company traded as high as $70.11 and last traded at $70.00, with a volume of 330166 shares traded. The stock had previously closed at $68.21.

Global X Lithium & Battery Tech ETF Stock Up 2.6%

The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 21.25 and a beta of 1.05. The stock has a fifty day moving average price of $64.10 and a 200-day moving average price of $54.39.

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

A number of large investors have recently bought and sold shares of the company. Stratos Wealth Partners LTD. purchased a new stake in shares of Global X Lithium & Battery Tech ETF in the second quarter valued at about $210,000. BLVD Private Wealth LLC purchased a new position in Global X Lithium & Battery Tech ETF during the second quarter worth about $1,679,000. Whitcomb & Hess Inc. lifted its position in Global X Lithium & Battery Tech ETF by 7.8% in the third quarter. Whitcomb & Hess Inc. now owns 206,915 shares of the company’s stock valued at $11,763,000 after purchasing an additional 14,894 shares during the period. Truist Financial Corp boosted its holdings in Global X Lithium & Battery Tech ETF by 21.7% in the 2nd quarter. Truist Financial Corp now owns 12,304 shares of the company’s stock valued at $472,000 after purchasing an additional 2,193 shares in the last quarter. Finally, Pinnbrook Capital Management LP acquired a new position in Global X Lithium & Battery Tech ETF during the 2nd quarter worth approximately $1,479,000.

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.