MLPX: High Yield & A Portfolio Diversifier (Rating Upgrade)

Global X MLP & Energy Infrastructure ETF is upgraded to buy, driven by strong recent momentum and diversification benefits. MLPX offers a high 3.95% yield, negative beta to the S&P 500, and exposure to both US and ex-US midstream energy infrastructure. Despite a rich 19x earnings valuation and portfolio concentration, MLPX provides solid income and reduced correlation to broad equities. Technical indicators remain bullish, though seasonality suggests potential near-term weakness; support is seen near $70.

Oil is back on the move. Global Brent crude oil is up 18% in the last four sessions, rising a whopping 35% so far in July. That has been welcome news for many stocks in the Energy sector. Indeed, Energy is