Alerian MLP ETF (NYSEARCA:AMLP) Reaches New 12-Month High – Should You Buy?

Alerian MLP ETF (NYSEARCA:AMLP)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $55.98 and last traded at $55.82, with a volume of 56224 shares changing hands. The stock had previously closed at $55.59.

Alerian MLP ETF Trading Up 0.2%

The company has a market cap of $13.09 billion, a P/E ratio of 14.17 and a beta of 0.50. The business’s 50 day simple moving average is $53.96 and its 200 day simple moving average is $52.98.

Hedge Funds Weigh In On Alerian MLP ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Brighton Jones LLC increased its holdings in Alerian MLP ETF by 19.4% in the 4th quarter. Brighton Jones LLC now owns 44,781 shares of the exchange traded fund’s stock valued at $2,157,000 after acquiring an additional 7,280 shares during the last quarter. Qube Research & Technologies Ltd lifted its stake in Alerian MLP ETF by 16.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 141,189 shares of the exchange traded fund’s stock worth $6,898,000 after purchasing an additional 19,916 shares in the last quarter. Sei Investments Co. bought a new position in shares of Alerian MLP ETF during the 2nd quarter valued at about $623,000. Diversify Advisory Services LLC purchased a new position in shares of Alerian MLP ETF during the second quarter valued at about $224,000. Finally, Quantinno Capital Management LP grew its position in shares of Alerian MLP ETF by 63.3% during the second quarter. Quantinno Capital Management LP now owns 50,768 shares of the exchange traded fund’s stock valued at $2,481,000 after purchasing an additional 19,678 shares in the last quarter.

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).