Alerian MLP ETN (NYSEARCA:AMJB) Sets New 1-Year High – Time to Buy?

Alerian MLP ETN (NYSEARCA:AMJB) reached a new 52-week high during trading on Tuesday . The company traded as high as $37.25 and last traded at $37.16, with a volume of 12235 shares trading hands. The stock had previously closed at $36.91.

Alerian MLP ETN Price Performance

The business has a 50-day simple moving average of $34.81 and a 200 day simple moving average of $32.59.

Alerian MLP ETN Increases Dividend

The business also recently declared a dividend, which was paid on Tuesday, March 10th. Shareholders of record on Monday, March 2nd were given a $0.506 dividend. This is a boost from Alerian MLP ETN’s previous dividend of $0.50. The ex-dividend date was Monday, March 2nd.

Insider Buying and Selling

In other news, CEO Mary E. Erdoes sold 12,345 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $306.57, for a total value of $3,784,606.65. Following the transaction, the chief executive officer directly owned 639,047 shares of the company’s stock, valued at $195,912,638.79. The trade was a 1.90% decrease in their position. The sale 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. Also, CEO Troy L. Rohrbaugh sold 50,000 shares of the business’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $307.11, for a total value of $15,355,500.00. Following the completion of the transaction, the chief executive officer directly owned 111,279 shares in the company, valued at $34,174,893.69. This represents a 31.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 304,174 shares of company stock worth $93,293,944 over the last three months.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC acquired a new position in shares of Alerian MLP ETN in the 4th quarter valued at about $151,000. Lake Street Private Wealth LLC lifted its stake in shares of Alerian MLP ETN by 31.6% in the 3rd quarter. Lake Street Private Wealth LLC now owns 133,560 shares of the company’s stock valued at $3,943,000 after purchasing an additional 32,075 shares during the period. Nicolet Bankshares Inc. raised its stake in Alerian MLP ETN by 1.0% during the 3rd quarter. Nicolet Bankshares Inc. now owns 194,978 shares of the company’s stock worth $5,756,000 after buying an additional 1,994 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in 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.

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.