Alerian MLP ETF (NYSEARCA:AMLP) Hits New 1-Year High – Here’s Why

Shares of Alerian MLP ETF (NYSEARCA:AMLP) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $53.24 and last traded at $53.17, with a volume of 1504290 shares trading hands. The stock had previously closed at $52.51.

Alerian MLP ETF Stock Performance

The stock has a market cap of $11.91 billion, a price-to-earnings ratio of 14.17 and a beta of 0.70. The business’s 50 day moving average is $51.00 and its 200 day moving average is $48.40.

Alerian MLP ETF Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Wednesday, February 11th were issued a dividend of $1.01 per share. This is a positive change from Alerian MLP ETF’s previous quarterly dividend of $1.00. This represents a $4.04 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date was Wednesday, February 11th.

Institutional Investors Weigh In On Alerian MLP ETF

Several hedge funds have recently bought and sold shares of AMLP. REAP Financial Group LLC lifted its holdings in Alerian MLP ETF by 2,000.0% in the 3rd quarter. REAP Financial Group LLC now owns 525 shares of the exchange traded fund’s stock worth $25,000 after purchasing an additional 500 shares during the last quarter. Manchester Capital Management LLC acquired a new position in Alerian MLP ETF during the second quarter valued at approximately $29,000. GAMMA Investing LLC raised its position in shares of Alerian MLP ETF by 213.9% in the third quarter. GAMMA Investing LLC now owns 653 shares of the exchange traded fund’s stock valued at $31,000 after purchasing an additional 445 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in shares of Alerian MLP ETF in the fourth quarter worth $43,000. Finally, MJT & Associates Financial Advisory Group Inc. boosted its holdings in shares of Alerian MLP ETF by 136.3% during the 3rd quarter. MJT & Associates Financial Advisory Group Inc. now owns 945 shares of the exchange traded fund’s stock worth $44,000 after buying an additional 545 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).