Lake Street Private Wealth LLC Boosts Stake in Alerian MLP ETN $AMJB

Lake Street Private Wealth LLC increased its holdings in shares of Alerian MLP ETN (NYSEARCA:AMJB) by 31.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 133,560 shares of the company’s stock after acquiring an additional 32,075 shares during the period. Lake Street Private Wealth LLC owned approximately 3.34% of Alerian MLP ETN worth $3,943,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in Alerian MLP ETN by 6.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,010,023 shares of the company’s stock worth $59,336,000 after purchasing an additional 130,000 shares during the period. Wellspring Financial Advisors LLC purchased a new stake in shares of Alerian MLP ETN in the second quarter valued at approximately $1,141,000. Finally, MeadowBrook Investment Advisors LLC raised its stake in shares of Alerian MLP ETN by 23.1% during the 2nd quarter. MeadowBrook Investment Advisors LLC now owns 5,960 shares of the company’s stock worth $180,000 after buying an additional 1,120 shares during the period.

Alerian MLP ETN Trading Down 0.9%

Shares of NYSEARCA:AMJB opened at $34.34 on Tuesday. The business’s 50 day moving average price is $31.71 and its 200-day moving average price is $30.55. Alerian MLP ETN has a 1 year low of $26.65 and a 1 year high of $34.70.

Alerian MLP ETN Increases Dividend

The company also recently announced a dividend, which was paid on Tuesday, December 9th. Shareholders of record on Monday, December 1st were issued a dividend of $0.5006 per share. The ex-dividend date of this dividend was Monday, December 1st. This is an increase from Alerian MLP ETN’s previous dividend of $0.49.

Insiders Place Their Bets

In other news, insider Ashley Bacon sold 7,364 shares of Alerian MLP ETN stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $312.79, for a total value of $2,303,385.56. Following the sale, the insider directly owned 237,157 shares of the company’s stock, valued at $74,180,338.03. The trade was a 3.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mary E. Erdoes sold 5,732 shares of the business’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $312.78, for a total value of $1,792,854.96. Following the sale, the chief executive officer owned 619,136 shares of the company’s stock, valued at $193,653,358.08. The trade was a 0.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 159,935 shares of company stock valued at $49,273,600.

Alerian MLP ETN 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.