Alerian MLP ETN (NYSEARCA:AMJB) Sees Strong Trading Volume – Here’s Why

Shares of Alerian MLP ETN (NYSEARCA:AMJB) saw strong trading volume on Monday. 95,091 shares changed hands during mid-day trading, an increase of 157% from the average daily volume of 37,055 shares. The stock last traded at $35.5090 and had previously closed at $35.58.

Alerian MLP ETN Stock Performance

The company has a 50 day moving average price of $36.17 and a 200-day moving average price of $35.18.

Alerian MLP ETN Cuts Dividend

The business also recently declared a dividend, which was paid on Tuesday, September 8th. Investors of record on Friday, August 28th were issued a $0.4957 dividend. This is a decrease from Alerian MLP ETN’s previous dividend of $0.5079. The ex-dividend date was Friday, August 28th.

Insider Buying and Selling

In other news, insider Robin Leopold sold 2,500 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $352.81, for a total transaction of $882,025.00. Following the sale, the insider owned 71,047 shares in the company, valued at approximately $25,066,092.07. The trade was a 3.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Investors Weigh In On Alerian MLP ETN

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMJB. Lynx Investment Advisory purchased a new position in Alerian MLP ETN during the third quarter valued at $204,000. NewEdge Advisors LLC bought a new position in Alerian MLP ETN in the first quarter worth approximately $209,000. Parallel Advisors LLC boosted its stake in shares of Alerian MLP ETN by 24.1% during the first quarter. Parallel Advisors LLC now owns 6,280 shares of the company’s stock valued at $217,000 after purchasing an additional 1,220 shares in the last quarter. Sax Wealth Advisors LLC bought a new position in Alerian MLP ETN in the third quarter worth about $477,000. Finally, Value Investment Professionals LLC acquired a new position in Alerian MLP ETN during the 3rd quarter valued at about $992,000.

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.