Destination Wealth Management Decreases Stake in Global X U.S. Infrastructure Development ETF (BATS:PAVE)

Destination Wealth Management cut its stake in shares of Global X U.S. Infrastructure Development ETF (BATS:PAVE) by 2.5% during the fourth quarter, HoldingsChannel reports. The firm owned 640,544 shares of the company’s stock after selling 16,117 shares during the quarter. Destination Wealth Management’s holdings in Global X U.S. Infrastructure Development ETF were worth $25,884,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PAVE. MassMutual Private Wealth & Trust FSB purchased a new stake in shares of Global X U.S. Infrastructure Development ETF in the fourth quarter worth approximately $28,000. Hanson & Doremus Investment Management purchased a new stake in shares of Global X U.S. Infrastructure Development ETF in the fourth quarter worth approximately $28,000. Sofi Wealth LLC purchased a new stake in shares of Global X U.S. Infrastructure Development ETF in the fourth quarter worth approximately $28,000. Key Financial Inc raised its holdings in shares of Global X U.S. Infrastructure Development ETF by 613.2% in the fourth quarter. Key Financial Inc now owns 756 shares of the company’s stock worth $31,000 after buying an additional 650 shares during the period. Finally, Trivant Custom Portfolio Group LLC bought a new position in Global X U.S. Infrastructure Development ETF in the fourth quarter worth approximately $32,000.

Global X U.S. Infrastructure Development ETF Stock Down 6.8 %

Shares of BATS:PAVE opened at $38.65 on Friday. Global X U.S. Infrastructure Development ETF has a 52-week low of $13.80 and a 52-week high of $17.80. The stock has a market cap of $8.10 billion, a P/E ratio of 23.20 and a beta of 1.25. The business’s 50 day moving average is $41.32 and its 200 day moving average is $41.56.

Global X U.S. Infrastructure Development ETF Announces Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, January 7th. Investors of record on Monday, December 30th were paid a $0.1394 dividend. The ex-dividend date of this dividend was Monday, December 30th.

About Global X U.S. Infrastructure Development ETF

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.