Ballentine Partners LLC Makes New $568,000 Investment in Alerian MLP ETF $AMLP

Ballentine Partners LLC purchased a new stake in Alerian MLP ETF (NYSEARCA:AMLP) in the third quarter, HoldingsChannel reports. The institutional investor purchased 12,101 shares of the exchange traded fund’s stock, valued at approximately $568,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Valeo Financial Advisors LLC acquired a new stake in shares of Alerian MLP ETF during the 3rd quarter worth about $204,000. Howard Wealth Management LLC grew its position in Alerian MLP ETF by 7.7% during the third quarter. Howard Wealth Management LLC now owns 15,642 shares of the exchange traded fund’s stock worth $734,000 after buying an additional 1,116 shares in the last quarter. Truist Financial Corp grew its holdings in shares of Alerian MLP ETF by 2.6% during the 3rd quarter. Truist Financial Corp now owns 90,420 shares of the exchange traded fund’s stock worth $4,243,000 after purchasing an additional 2,269 shares in the last quarter. Summit Investment Advisory Services LLC bought a new position in Alerian MLP ETF in the 3rd quarter valued at about $354,000. Finally, Stonegate Investment Group LLC increased its stake in Alerian MLP ETF by 18.7% in the third quarter. Stonegate Investment Group LLC now owns 13,493 shares of the exchange traded fund’s stock valued at $633,000 after acquiring an additional 2,123 shares during the last quarter.

Alerian MLP ETF Stock Down 0.6%

Shares of AMLP stock opened at $50.03 on Friday. The company has a market cap of $11.20 billion, a P/E ratio of 14.17 and a beta of 0.70. Alerian MLP ETF has a twelve month low of $43.75 and a twelve month high of $53.24. The business has a fifty day simple moving average of $47.91 and a 200 day simple moving average of $47.68.

About Alerian MLP ETF

ALERIAN MLP ETF seeks investment results that correspond (before fees and expenses) to the price and yield performance of its underlying index, the Alerian MLP Infrastructure Index (the Index). The Index is a rules based, modified capitalization weighted, float adjusted index intended to give investors a means of tracking the overall performance of the United States energy infrastructure Master Limited Partnership (MLP) asset class. The Index is comprised of 25 energy infrastructure MLPs. The fund will invest at least 90% of its total assets in securities, which comprise the Index (or depositary receipts based on such securities).