Alerian MLP ETN (NYSEARCA:AMJB) General Counsel Sells $1,064,771.20 in Stock

Alerian MLP ETN (NYSEARCA:AMJB) General Counsel Stacey Friedman sold 3,404 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $312.80, for a total value of $1,064,771.20. Following the completion of the transaction, the general counsel directly owned 65,353 shares of the company’s stock, valued at approximately $20,442,418.40. This represents a 4.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Alerian MLP ETN Stock Performance

Shares of AMJB traded up $0.31 on Friday, reaching $31.79. 17,139 shares of the company’s stock traded hands, compared to its average volume of 45,085. The stock’s 50 day simple moving average is $30.32 and its two-hundred day simple moving average is $30.09. Alerian MLP ETN has a 52-week low of $26.65 and a 52-week high of $33.40.

Alerian MLP ETN Increases Dividend

The firm also recently announced a dividend, which was paid on Tuesday, December 9th. Stockholders of record on Monday, December 1st were paid a dividend of $0.5006 per share. The ex-dividend date was Monday, December 1st. This is a positive change from Alerian MLP ETN’s previous dividend of $0.49.

Institutional Trading of Alerian MLP ETN

Hedge funds have recently added to or reduced their stakes in the stock. Wellspring Financial Advisors LLC bought a new position in shares of Alerian MLP ETN during the 2nd quarter valued at approximately $1,141,000. MeadowBrook Investment Advisors LLC raised its holdings in shares of Alerian MLP ETN by 23.1% in the 2nd quarter. MeadowBrook Investment Advisors LLC now owns 5,960 shares of the company’s stock worth $180,000 after purchasing an additional 1,120 shares during the period. IFP Advisors Inc raised its holdings in shares of Alerian MLP ETN by 44.1% in the 2nd quarter. IFP Advisors Inc now owns 34,363 shares of the company’s stock worth $1,040,000 after purchasing an additional 10,510 shares during the period. Lake Street Private Wealth LLC grew its holdings in Alerian MLP ETN by 31.6% during the third quarter. Lake Street Private Wealth LLC now owns 133,560 shares of the company’s stock valued at $3,943,000 after purchasing an additional 32,075 shares during the period. Finally, JPMorgan Chase & Co. grew 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 valued at $59,336,000 after purchasing an additional 130,000 shares during the period.

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.