Alerian MLP ETN (NYSEARCA:AMJB) Sets New 52-Week High – Here’s Why

Alerian MLP ETN (NYSEARCA:AMJB) reached a new 52-week high during trading on Wednesday . The company traded as high as $37.86 and last traded at $37.75, with a volume of 16990 shares changing hands. The stock had previously closed at $37.63.

Alerian MLP ETN Price Performance

The firm’s 50-day moving average price is $35.75 and its two-hundred day moving average price is $35.12.

Alerian MLP ETN Increases Dividend

The business also recently declared a dividend, which was paid on Monday, June 8th. Stockholders of record on Friday, May 29th were given a $0.5079 dividend. The ex-dividend date of this dividend was Friday, May 29th. This is a positive change from Alerian MLP ETN’s previous dividend of $0.51.

Insider Transactions at Alerian MLP ETN

In related news, General Counsel Stacey Friedman sold 5,467 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the completion of the transaction, the general counsel owned 40,961 shares in the company, valued at $13,547,031.53. The trade was a 11.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 2,500 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $361.41, for a total transaction of $903,525.00. Following the sale, the insider directly owned 73,547 shares of the company’s stock, valued at $26,580,621.27. The trade was a 3.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Trading of Alerian MLP ETN

Hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its position in Alerian MLP ETN by 16.7% during the 4th quarter. JPMorgan Chase & Co. now owns 2,345,023 shares of the company’s stock valued at $70,140,000 after buying an additional 335,000 shares in the last quarter. RPg Family Wealth Advisory LLC boosted its holdings in Alerian MLP ETN by 37.4% in the second quarter. RPg Family Wealth Advisory LLC now owns 165,639 shares of the company’s stock worth $5,713,000 after acquiring an additional 45,061 shares in the last quarter. Risk Paradigm Group LLC grew its stake in shares of Alerian MLP ETN by 34.1% during the second quarter. Risk Paradigm Group LLC now owns 150,358 shares of the company’s stock worth $5,186,000 after acquiring an additional 38,210 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in shares of Alerian MLP ETN during the first quarter worth about $209,000. Finally, Parallel Advisors LLC acquired a new position in shares of Alerian MLP ETN during the fourth quarter valued at about $151,000.

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.