Valley National Advisers Inc. Trims Stock Position in Global X U.S. Infrastructure Development ETF (BATS:PAVE)

Valley National Advisers Inc. lessened its stake in Global X U.S. Infrastructure Development ETF (BATS:PAVE) by 50.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,626 shares of the company’s stock after selling 3,628 shares during the quarter. Valley National Advisers Inc.’s holdings in Global X U.S. Infrastructure Development ETF were worth $149,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Farmers & Merchants Investments Inc. grew its stake in shares of Global X U.S. Infrastructure Development ETF by 1,029.7% in the second quarter. Farmers & Merchants Investments Inc. now owns 723 shares of the company’s stock valued at $27,000 after buying an additional 659 shares in the last quarter. Blue Trust Inc. lifted its holdings in Global X U.S. Infrastructure Development ETF by 164.9% during the 2nd quarter. Blue Trust Inc. now owns 816 shares of the company’s stock worth $32,000 after buying an additional 508 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Global X U.S. Infrastructure Development ETF in the second quarter worth $33,000. First PREMIER Bank acquired a new position in shares of Global X U.S. Infrastructure Development ETF in the 3rd quarter valued at about $39,000. Finally, Clear Point Advisors Inc. bought a new position in shares of Global X U.S. Infrastructure Development ETF during the second quarter valued at approximately $40,000.

Global X U.S. Infrastructure Development ETF Trading Down 0.6 %

BATS PAVE opened at $41.21 on Monday. The company has a 50-day moving average price of $40.00 and a two-hundred day moving average price of $38.72. The stock has a market cap of $7.89 billion, a price-to-earnings ratio of 20.28 and a beta of 1.13. Global X U.S. Infrastructure Development ETF has a 52 week low of $13.80 and a 52 week high of $17.80.

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.