An exchange-traded fund dedicated to lithium miners and battery producers surged on Monday, advancing to a multiyear high on volume that was many times its daily average. The Global X Lithium & Battery Tech ETF advanced 1.7% to $38.50, hitting its highest level since August 2011, according to FactSet data. More than 1.9 million shares exchanged hands, well above the fund’s 30-day average, which is less than 440,000. Thus far this year, the ETF has advanced more than 58%. It has also seen inflows of $325.6 million year to date, bringing its total assets to $555.2 million. The fund’s largest holding is FMC Corp. , which comprises more than 23% of the portfolio. FMC’s shares rose 2% on Monday. Tesla Inc. , representing about 5.6% of the portfolio, saw its stock gain 1.2%.
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