Alerian MLP ETN (NYSEARCA:AMJB) Stock Crosses Below 200 Day Moving Average – Here’s Why

Alerian MLP ETN (NYSEARCA:AMJB)’s share price passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $35.13 and traded as low as $35.00. Alerian MLP ETN shares last traded at $35.00, with a volume of 12,232 shares.

Alerian MLP ETN Trading Down 0.9%

The firm has a fifty day moving average price of $36.24 and a 200-day moving average price of $35.13.

Alerian MLP ETN Cuts Dividend

The firm also recently announced a dividend, which was paid on Tuesday, September 8th. Investors of record on Friday, August 28th were given a dividend of $0.4957 per share. This is a drop from Alerian MLP ETN’s previous dividend of $0.5079. The ex-dividend date was Friday, August 28th.

Insider Transactions at Alerian MLP ETN

In other Alerian MLP ETN news, insider Robin Leopold sold 2,500 shares of the firm’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $352.81, for a total value of $882,025.00. Following the sale, the insider directly owned 71,047 shares of the company’s stock, valued at approximately $25,066,092.07. This trade represents a 3.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Lynx Investment Advisory purchased a new stake in Alerian MLP ETN in the third quarter valued at approximately $204,000. IFP Advisors Inc raised its stake in Alerian MLP ETN by 2.3% during the third quarter. IFP Advisors Inc now owns 35,183 shares of the company’s stock worth $1,213,000 after purchasing an additional 800 shares during the period. Benchmark Financial LLC raised its stake in Alerian MLP ETN by 5.4% during the third quarter. Benchmark Financial LLC now owns 51,291 shares of the company’s stock worth $1,769,000 after purchasing an additional 2,637 shares during the period. Sax Wealth Advisors LLC purchased a new position in Alerian MLP ETN during the third quarter worth approximately $477,000. Finally, Value Investment Professionals LLC purchased a new position in Alerian MLP ETN during the third quarter worth approximately $992,000.

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.