Alerian MLP ETN (NYSEARCA:AMJB) Sets New 12-Month High – Should You Buy?

Alerian MLP ETN (NYSEARCA:AMJB) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $36.14 and last traded at $36.12, with a volume of 16741 shares traded. The stock had previously closed at $36.03.

Alerian MLP ETN Price Performance

The business’s 50-day moving average is $34.64 and its two-hundred day moving average is $32.38.

Alerian MLP ETN Increases Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, March 10th. Stockholders of record on Monday, March 2nd were issued a $0.506 dividend. The ex-dividend date was Monday, March 2nd. This is a positive change from Alerian MLP ETN’s previous dividend of $0.50.

Insiders Place Their Bets

In related news, CEO Mary E. Erdoes sold 12,345 shares of the company’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $306.57, for a total transaction of $3,784,606.65. Following the sale, the chief executive officer owned 639,047 shares in the company, valued at approximately $195,912,638.79. This represents a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ashley Bacon sold 4,070 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total value of $1,259,339.40. Following the transaction, the insider directly owned 248,785 shares of the company’s stock, valued at $76,979,054.70. This trade represents a 1.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 309,553 shares of company stock valued at $94,995,635 in the last quarter.

Institutional Investors Weigh In On Alerian MLP ETN

Several large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its holdings in Alerian MLP ETN by 6.9% during the third quarter. JPMorgan Chase & Co. now owns 2,010,023 shares of the company’s stock worth $59,336,000 after buying an additional 130,000 shares during the last quarter. Lake Street Private Wealth LLC lifted its stake in Alerian MLP ETN by 31.6% in the third quarter. Lake Street Private Wealth LLC now owns 133,560 shares of the company’s stock valued at $3,943,000 after acquiring an additional 32,075 shares during the last quarter. Nicolet Bankshares Inc. lifted its stake in Alerian MLP ETN by 1.0% in the third quarter. Nicolet Bankshares Inc. now owns 194,978 shares of the company’s stock valued at $5,756,000 after acquiring an additional 1,994 shares during the last quarter. Finally, Parallel Advisors LLC bought a new position in shares of Alerian MLP ETN in the 4th quarter valued at about $151,000.

About Alerian MLP ETN

The ALERIAN MLP INDEX ETNS DUE JANUARY 28, 2044 (AMJB) is an exchange-traded fund that is based on the Alerian MLP index. The fund tracks a market cap-weighted index of 50 North American energy MLPs. Securities are selected based on distributions. AMJB was launched on Apr 2, 2009 and is issued by JPMorgan Chase.