Alerian MLP ETN (NYSEARCA:AMJB) Sees Unusually-High Trading Volume – Time to Buy?

Alerian MLP ETN (NYSEARCA:AMJB) shares saw an uptick in trading volume on Wednesday. Approximately 42,866 shares traded hands during trading, an increase of 13% from the average daily volume of 37,807 shares. The stock last traded at $33.91 and had previously closed at $33.65.

Alerian MLP ETN Trading Up 1.0%

The company’s 50-day moving average is $35.64 and its 200-day moving average is $35.27.

Alerian MLP ETN Cuts Dividend

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

Insider Activity

In other news, insider Robin Leopold sold 2,500 shares of the stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $352.81, for a total transaction of $882,025.00. Following the sale, the insider directly owned 71,047 shares of the company’s stock, valued at $25,066,092.07. This represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AMJB. Smallwood Wealth Investment Management LLC boosted its position in Alerian MLP ETN by 0.8% in the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 94,107 shares of the company’s stock valued at $3,246,000 after buying an additional 781 shares during the last quarter. IFP Advisors Inc raised its position in shares of 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 acquiring an additional 800 shares during the last quarter. Beckerman Institutional LLC raised its position in shares of Alerian MLP ETN by 2.2% during the third quarter. Beckerman Institutional LLC now owns 42,793 shares of the company’s stock worth $1,476,000 after acquiring an additional 936 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Alerian MLP ETN by 24.1% during the first quarter. Parallel Advisors LLC now owns 6,280 shares of the company’s stock valued at $217,000 after acquiring an additional 1,220 shares during the period. Finally, Benchmark Financial LLC lifted its stake in shares of Alerian MLP ETN by 5.4% during the third quarter. Benchmark Financial LLC now owns 51,291 shares of the company’s stock valued at $1,769,000 after acquiring an additional 2,637 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.