Alerian MLP ETN (NYSEARCA:AMJB) Reaches New 1-Year High – Here’s What Happened

Shares of Alerian MLP ETN (NYSEARCA:AMJB) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $37.67 and last traded at $37.67, with a volume of 18587 shares changing hands. The stock had previously closed at $37.30.

Alerian MLP ETN Stock Down 0.1%

The business’s fifty day simple moving average is $35.56 and its 200 day simple moving average is $34.96.

Alerian MLP ETN Increases Dividend

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

Insider Transactions at Alerian MLP ETN

In other Alerian MLP ETN news, insider Robin Leopold sold 2,500 shares of Alerian MLP ETN stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $361.41, for a total value of $903,525.00. Following the completion of the transaction, the insider directly owned 73,547 shares in the company, valued at $26,580,621.27. The trade was a 3.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,468 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total value of $1,641,876.36. Following the transaction, the general counsel directly owned 46,428 shares of the company’s stock, valued at $13,940,935.56. This trade represents a 10.54% 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. Insiders sold 13,435 shares of company stock worth $4,353,502 in the last three months.

Institutional Investors Weigh In On Alerian MLP ETN

A number of hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its holdings in Alerian MLP ETN by 16.7% in the 4th 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. Parallel Advisors LLC bought a new stake in Alerian MLP ETN during the 4th quarter valued at $151,000. Finally, NewEdge Advisors LLC bought a new stake in Alerian MLP ETN during the 1st quarter valued at $209,000.

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.