Alerian MLP ETN (NYSEARCA:AMJB) Sets New 12-Month High – Here’s Why

Alerian MLP ETN (NYSEARCA:AMJB) reached a new 52-week high on Thursday . The company traded as high as $38.55 and last traded at $38.55, with a volume of 32307 shares changing hands. The stock had previously closed at $37.89.

Alerian MLP ETN Trading Up 1.7%

The firm has a fifty day moving average of $36.05 and a two-hundred day moving average of $35.26.

Alerian MLP ETN Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Friday, August 28th will be paid a dividend of $0.4957 per share. The ex-dividend date of this dividend is Friday, August 28th.

Insider Activity at Alerian MLP ETN

In other news, insider Robin Leopold sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $361.41, for a total value of $903,525.00. Following the transaction, the insider owned 73,547 shares in the company, valued at approximately $26,580,621.27. This trade represents a 3.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,467 shares of Alerian MLP ETN stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the completion of the transaction, the general counsel directly owned 40,961 shares in the company, valued at approximately $13,547,031.53. The trade was a 11.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hedge Funds Weigh In On Alerian MLP ETN

Hedge funds have recently modified their holdings of the company. Parallel Advisors LLC bought a new stake in shares of Alerian MLP ETN in the fourth quarter worth about $151,000. NewEdge Advisors LLC purchased a new stake in Alerian MLP ETN in the 1st quarter worth approximately $209,000. Smallwood Wealth Investment Management LLC lifted its holdings in Alerian MLP ETN by 1.5% in the 2nd quarter. Smallwood Wealth Investment Management LLC now owns 93,326 shares of the company’s stock worth $3,219,000 after buying an additional 1,424 shares during the period. Risk Paradigm Group LLC grew its position in shares of Alerian MLP ETN by 34.1% in the 2nd quarter. Risk Paradigm Group LLC now owns 150,358 shares of the company’s stock worth $5,186,000 after buying an additional 38,210 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC grew its position in shares of Alerian MLP ETN by 37.4% in the 2nd quarter. RPg Family Wealth Advisory LLC now owns 165,639 shares of the company’s stock worth $5,713,000 after buying an additional 45,061 shares during the last quarter.

Alerian MLP ETN Company Profile

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.