Alerian MLP ETN (NYSEARCA:AMJB) Sets New 12-Month High – Here’s What Happened

Alerian MLP ETN (NYSEARCA:AMJB) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $38.55 and last traded at $38.55, with a volume of 32307 shares changing hands. The stock had previously closed at $37.89.

Alerian MLP ETN Stock Performance

The stock’s 50-day moving average is $36.20 and its 200-day moving average is $35.31.

Alerian MLP ETN Cuts Dividend

The company also recently announced a dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Friday, August 28th will be paid a $0.4957 dividend. The ex-dividend date is Friday, August 28th.

Insiders Place Their Bets

In other Alerian MLP ETN news, General Counsel Stacey Friedman sold 5,467 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $330.73, for a total value of $1,808,100.91. Following the completion of the transaction, the general counsel directly owned 40,961 shares of the company’s stock, valued at $13,547,031.53. This represents a 11.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 2,500 shares of Alerian MLP ETN stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $361.41, for a total value of $903,525.00. Following the sale, the insider directly owned 73,547 shares in the company, valued at approximately $26,580,621.27. The trade was a 3.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hedge Funds Weigh In On Alerian MLP ETN

A number of institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its position in shares of Alerian MLP ETN by 16.7% during the fourth quarter. JPMorgan Chase & Co. now owns 2,345,023 shares of the company’s stock worth $70,140,000 after buying an additional 335,000 shares in the last quarter. RPg Family Wealth Advisory LLC raised 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 valued at $5,713,000 after acquiring an additional 45,061 shares in the last quarter. Risk Paradigm Group LLC boosted its stake in Alerian MLP ETN by 34.1% during the 2nd quarter. Risk Paradigm Group LLC now owns 150,358 shares of the company’s stock valued at $5,186,000 after acquiring an additional 38,210 shares during the last quarter. NewEdge Advisors LLC bought a new position in Alerian MLP ETN during the 1st quarter valued at $209,000. Finally, Parallel Advisors LLC acquired a new position in Alerian MLP ETN during the 4th quarter worth $151,000.

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.