Alerian MLP ETN (NYSEARCA:AMJB) Insider Robin Leopold Sells 2,500 Shares of Stock

Alerian MLP ETN (NYSEARCA:AMJB) 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 sale, the insider directly owned 73,547 shares in the company, valued at approximately $26,580,621.27. The trade was a 3.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alerian MLP ETN Trading Up 0.4%

Alerian MLP ETN stock traded up $0.15 during midday trading on Tuesday, reaching $37.04. 6,075 shares of the company were exchanged, compared to its average volume of 40,852. The firm’s 50-day simple moving average is $35.38 and its 200-day simple moving average is $34.82. Alerian MLP ETN has a 1 year low of $28.00 and a 1 year high of $37.54.

Alerian MLP ETN Increases Dividend

The company also recently declared a dividend, which was paid on Monday, June 8th. Stockholders of record on Friday, May 29th were issued a dividend of $0.5079 per share. This is a boost from Alerian MLP ETN’s previous dividend of $0.51. The ex-dividend date was Friday, May 29th.

Hedge Funds Weigh In On Alerian MLP ETN

Institutional investors have recently modified their holdings of the company. Parallel Advisors LLC purchased a new position in shares of Alerian MLP ETN during the fourth quarter valued at approximately $151,000. NewEdge Advisors LLC purchased a new stake in Alerian MLP ETN in the 1st quarter worth approximately $209,000. Finally, JPMorgan Chase & Co. grew its stake in Alerian MLP ETN by 16.7% in the 4th quarter. JPMorgan Chase & Co. now owns 2,345,023 shares of the company’s stock worth $70,140,000 after acquiring an additional 335,000 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.