Alerian MLP ETF (NYSEARCA:AMLP) Sets New 52-Week High – Still a Buy?

Alerian MLP ETF (NYSEARCA:AMLP)’s share price hit a new 52-week high on Monday . The company traded as high as $52.80 and last traded at $52.5130, with a volume of 222727 shares changing hands. The stock had previously closed at $52.04.

Alerian MLP ETF Stock Performance

The company has a market capitalization of $11.81 billion, a PE ratio of 14.17 and a beta of 0.70. The business has a fifty day moving average price of $49.41 and a 200 day moving average price of $47.95.

Alerian MLP ETF Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Wednesday, February 11th were paid a dividend of $1.01 per share. This is an increase from Alerian MLP ETF’s previous quarterly dividend of $1.00. This represents a $4.04 annualized dividend and a yield of 7.7%. The ex-dividend date was Wednesday, February 11th.

Hedge Funds Weigh In On Alerian MLP ETF

A number of hedge funds have recently made changes to their positions in AMLP. Bank of America Corp DE boosted its position in Alerian MLP ETF by 0.7% during the 2nd quarter. Bank of America Corp DE now owns 8,453,389 shares of the exchange traded fund’s stock worth $413,033,000 after purchasing an additional 54,835 shares during the period. Allen Investment Management LLC lifted its stake in shares of Alerian MLP ETF by 7.1% during the fourth quarter. Allen Investment Management LLC now owns 3,751,091 shares of the exchange traded fund’s stock worth $176,376,000 after purchasing an additional 249,766 shares in the last quarter. Raymond James Financial Inc. lifted its stake in shares of Alerian MLP ETF by 5.9% during the second quarter. Raymond James Financial Inc. now owns 2,715,784 shares of the exchange traded fund’s stock worth $132,693,000 after purchasing an additional 152,451 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Alerian MLP ETF by 19.2% in the second quarter. Ameriprise Financial Inc. now owns 1,634,868 shares of the exchange traded fund’s stock worth $79,886,000 after buying an additional 262,817 shares during the period. Finally, US Bancorp DE boosted its position in shares of Alerian MLP ETF by 17.7% in the fourth quarter. US Bancorp DE now owns 1,409,498 shares of the exchange traded fund’s stock worth $66,275,000 after buying an additional 211,540 shares during the period.

About Alerian MLP ETF

ALERIAN MLP ETF seeks investment results that correspond (before fees and expenses) to the price and yield performance of its underlying index, the Alerian MLP Infrastructure Index (the Index). The Index is a rules based, modified capitalization weighted, float adjusted index intended to give investors a means of tracking the overall performance of the United States energy infrastructure Master Limited Partnership (MLP) asset class. The Index is comprised of 25 energy infrastructure MLPs. The fund will invest at least 90% of its total assets in securities, which comprise the Index (or depositary receipts based on such securities).