Alerian MLP ETN (NYSEARCA:AMJB) Sees Unusually-High Trading Volume – Still a Buy?

Alerian MLP ETN (NYSEARCA:AMJB) shares saw unusually-high trading volume on Tuesday . 59,166 shares were traded during mid-day trading, an increase of 34% from the previous session’s volume of 44,117 shares.The stock last traded at $34.8850 and had previously closed at $34.12.

Alerian MLP ETN Price Performance

The business has a 50-day simple moving average of $35.25 and a 200-day simple moving average of $33.86.

Alerian MLP ETN Increases Dividend

The company also recently disclosed a dividend, which was paid on Monday, June 8th. Investors of record on Friday, May 29th were issued a $0.5079 dividend. The ex-dividend date was Friday, May 29th. This is a boost from Alerian MLP ETN’s previous dividend of $0.51.

Insider Activity

In other Alerian MLP ETN news, CEO James Dimon sold 130,488 shares of Alerian MLP ETN stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $306.56, for a total value of $40,002,401.28. Following the completion of the transaction, the chief executive officer directly owned 1,680,625 shares of the company’s stock, valued at $515,212,400. The trade was a 7.20% 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, COO Jennifer Piepszak sold 9,136 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $306.56, for a total transaction of $2,800,732.16. Following the sale, the chief operating officer owned 90,001 shares in the company, valued at $27,590,706.56. This trade represents a 9.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 194,732 shares of company stock worth $59,774,585 in the last quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AMJB. Parallel Advisors LLC increased its stake in Alerian MLP ETN by 24.1% during the 1st quarter. Parallel Advisors LLC now owns 6,280 shares of the company’s stock worth $217,000 after buying an additional 1,220 shares during the period. Nicolet Bankshares Inc. boosted its position in Alerian MLP ETN by 1.0% in the 3rd quarter. Nicolet Bankshares Inc. now owns 194,978 shares of the company’s stock valued at $5,756,000 after buying an additional 1,994 shares during the period. NewEdge Advisors LLC acquired a new position in shares of Alerian MLP ETN in the first quarter worth $209,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Alerian MLP ETN by 6.9% in the third quarter. JPMorgan Chase & Co. now owns 2,010,023 shares of the company’s stock worth $59,336,000 after acquiring an additional 130,000 shares in the last quarter.

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.