Essex Financial Services Inc. Has $2.96 Million Stock Position in Alerian MLP ETF $AMLP

Essex Financial Services Inc. reduced its holdings in Alerian MLP ETF (NYSEARCA:AMLP) by 16.4% in the third quarter, HoldingsChannel reports. The firm owned 63,109 shares of the exchange traded fund’s stock after selling 12,404 shares during the period. Essex Financial Services Inc.’s holdings in Alerian MLP ETF were worth $2,962,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Orion Porfolio Solutions LLC increased its stake in Alerian MLP ETF by 326.3% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 1,039,696 shares of the exchange traded fund’s stock valued at $50,800,000 after buying an additional 795,787 shares during the last quarter. Assetmark Inc. increased its position in shares of Alerian MLP ETF by 1,024.7% during the 3rd quarter. Assetmark Inc. now owns 716,978 shares of the exchange traded fund’s stock valued at $33,648,000 after purchasing an additional 653,230 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in Alerian MLP ETF by 60.4% during the second quarter. Rockefeller Capital Management L.P. now owns 856,674 shares of the exchange traded fund’s stock valued at $41,857,000 after buying an additional 322,729 shares during the period. TRUE Private Wealth Advisors increased its holdings in Alerian MLP ETF by 3,254.0% during the second quarter. TRUE Private Wealth Advisors now owns 330,398 shares of the exchange traded fund’s stock worth $16,143,000 after buying an additional 320,547 shares during the last quarter. Finally, RS Crum Inc. bought a new stake in Alerian MLP ETF in the second quarter worth about $14,966,000.

Alerian MLP ETF Stock Up 0.3%

Alerian MLP ETF stock opened at $51.56 on Thursday. The firm has a 50 day moving average price of $48.77 and a 200-day moving average price of $47.83. Alerian MLP ETF has a twelve month low of $43.75 and a twelve month high of $52.58. The company has a market capitalization of $11.62 billion, a P/E ratio of 14.17 and a beta of 0.70.

Alerian MLP ETF Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Wednesday, February 11th were issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 7.8%. This is a boost from Alerian MLP ETF’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Wednesday, February 11th.

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).