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

Alerian MLP ETN (NYSEARCA:AMJB) shares hit 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 trading hands. The stock had previously closed at $37.89.

Alerian MLP ETN Stock Up 1.7%

The stock’s 50 day simple moving average is $36.05 and its 200 day simple moving average is $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 issued a dividend of $0.4957 per share. The ex-dividend date of this dividend is Friday, August 28th.

Insider Buying and Selling at Alerian MLP ETN

In related news, General Counsel Stacey Friedman sold 5,467 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $330.73, for a total value of $1,808,100.91. Following the transaction, the general counsel owned 40,961 shares of the company’s stock, valued at $13,547,031.53. This represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 2,500 shares of the stock in a transaction 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 completion of the transaction, the insider directly owned 73,547 shares in the company, valued at approximately $26,580,621.27. This represents a 3.29% decrease in their position. 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

Large investors have recently modified their holdings of the company. Parallel Advisors LLC boosted its stake in shares of Alerian MLP ETN by 24.1% in the 1st quarter. Parallel Advisors LLC now owns 6,280 shares of the company’s stock valued at $217,000 after purchasing an additional 1,220 shares in the last quarter. Smallwood Wealth Investment Management LLC raised its position 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 purchasing an additional 1,424 shares during the period. NewEdge Advisors LLC purchased a new position in Alerian MLP ETN in the 1st quarter worth $209,000. Risk Paradigm Group LLC lifted its stake in Alerian MLP ETN by 34.1% in the second quarter. Risk Paradigm Group LLC now owns 150,358 shares of the company’s stock worth $5,186,000 after purchasing an additional 38,210 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC boosted its position in Alerian MLP ETN by 37.4% during the second quarter. RPg Family Wealth Advisory LLC now owns 165,639 shares of the company’s stock valued at $5,713,000 after buying an additional 45,061 shares during the period.

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.