Alerian MLP ETN (NYSEARCA:AMJB) Trading 0.4% Higher – Time to Buy?

Shares of Alerian MLP ETN (NYSEARCA:AMJB) shot up 0.4% during mid-day trading on Monday . The stock traded as high as $33.28 and last traded at $33.24. 38,160 shares were traded during trading, a decline of 5% from the average session volume of 40,245 shares. The stock had previously closed at $33.11.

Alerian MLP ETN Stock Up 0.4%

The firm’s 50 day moving average is $30.95 and its two-hundred day moving average is $30.31.

Alerian MLP ETN Increases Dividend

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

Insider Activity at Alerian MLP ETN

In other Alerian MLP ETN news, CFO Jeremy Barnum sold 2,893 shares of the stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $312.79, for a total transaction of $904,901.47. Following the completion of the sale, the chief financial officer owned 26,696 shares of the company’s stock, valued at approximately $8,350,241.84. This represents a 9.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jennifer Piepszak sold 8,571 shares of the firm’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $312.79, for a total transaction of $2,680,923.09. Following the transaction, the chief operating officer owned 71,027 shares of the company’s stock, valued at approximately $22,216,535.33. The trade was a 10.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 27,964 shares of company stock valued at $8,746,836 over the last ninety days.

Hedge Funds Weigh In On Alerian MLP ETN

Institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. grew its position in shares of Alerian MLP ETN by 6.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,010,023 shares of the company’s stock worth $59,336,000 after buying an additional 130,000 shares during the period. Wellspring Financial Advisors LLC bought a new position in Alerian MLP ETN during the second quarter worth $1,141,000. Lake Street Private Wealth LLC grew its holdings in Alerian MLP ETN by 31.6% in the third quarter. Lake Street Private Wealth LLC now owns 133,560 shares of the company’s stock worth $3,943,000 after purchasing an additional 32,075 shares during the period. IFP Advisors Inc grew its holdings in Alerian MLP ETN by 44.1% in the second 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. Finally, Nicolet Bankshares Inc. increased its stake in Alerian MLP ETN by 1.0% in the third quarter. Nicolet Bankshares Inc. now owns 194,978 shares of the company’s stock valued at $5,756,000 after purchasing an additional 1,994 shares in the last quarter.

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.