Global X 1-3 Month T-Bill ETF (NYSEARCA:CLIP) Sees Strong Trading Volume – Still a Buy?

Global X 1-3 Month T-Bill ETF (NYSEARCA:CLIP) saw unusually-high trading volume on Wednesday . Approximately 475,031 shares were traded during mid-day trading, an increase of 172% from the previous session’s volume of 174,473 shares.The stock last traded at $100.38 and had previously closed at $100.37.

Global X 1-3 Month T-Bill ETF Stock Performance

The firm’s 50-day moving average is $100.27 and its 200-day moving average is $100.30.

Hedge Funds Weigh In On Global X 1-3 Month T-Bill ETF

Several institutional investors have recently made changes to their positions in CLIP. Sei Investments Co. raised its stake in Global X 1-3 Month T-Bill ETF by 8.0% during the fourth quarter. Sei Investments Co. now owns 1,431,904 shares of the company’s stock valued at $143,334,000 after purchasing an additional 105,559 shares in the last quarter. LPL Financial LLC raised its position in shares of Global X 1-3 Month T-Bill ETF by 60.2% in the 4th quarter. LPL Financial LLC now owns 530,850 shares of the company’s stock worth $53,138,000 after acquiring an additional 199,433 shares in the last quarter. Global X Japan Co. Ltd. boosted its position in shares of Global X 1-3 Month T-Bill ETF by 25.3% in the 4th quarter. Global X Japan Co. Ltd. now owns 400,941 shares of the company’s stock worth $40,134,000 after purchasing an additional 80,858 shares in the last quarter. Creekmur Asset Management LLC grew its position in Global X 1-3 Month T-Bill ETF by 32.9% during the 3rd quarter. Creekmur Asset Management LLC now owns 382,135 shares of the company’s stock worth $38,405,000 after purchasing an additional 94,637 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Global X 1-3 Month T-Bill ETF by 41.1% in the fourth quarter. Renaissance Technologies LLC now owns 270,400 shares of the company’s stock valued at $27,067,000 after purchasing an additional 78,800 shares during the period.

About Global X 1-3 Month T-Bill ETF

The Global X 1-3 Month T-Bill ETF (CLIP) is an exchange-traded fund that is based on the Solactive 1-3 month US T-Bill – USD index. The fund tracks a market value-weighted index of USD-denominated, zero-coupon US Treasury bills with a time to maturity of one to three months. CLIP was launched on Jun 20, 2023 and is managed by Global X.