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

Shares of Alerian MLP ETN (NYSEARCA:AMJB) saw unusually-high trading volume on Wednesday. 42,866 shares traded hands during mid-day trading, an increase of 13% from the average daily volume of 37,807 shares. The stock last traded at $33.91 and had previously closed at $33.65.

Alerian MLP ETN Stock Performance

The firm has a 50 day simple moving average of $35.64 and a 200-day simple moving average of $35.27.

Alerian MLP ETN Cuts Dividend

The company also recently announced a dividend, which was paid on Tuesday, September 8th. Stockholders of record on Friday, August 28th were issued a $0.4957 dividend. The ex-dividend date of this dividend was Friday, August 28th. This is a negative change from Alerian MLP ETN’s previous dividend of $0.5079.

Insider Activity

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

Institutional Trading of Alerian MLP ETN

Several large investors have recently added to or reduced their stakes in AMJB. Beckerman Institutional LLC boosted its holdings in shares of Alerian MLP ETN by 2.2% in the 3rd quarter. Beckerman Institutional LLC now owns 42,793 shares of the company’s stock worth $1,476,000 after acquiring an additional 936 shares in the last quarter. Kestra Advisory Services LLC raised its position in Alerian MLP ETN by 24.4% in the 3rd quarter. Kestra Advisory Services LLC now owns 43,581 shares of the company’s stock valued at $1,503,000 after purchasing an additional 8,538 shares during the last quarter. Smallwood Wealth Investment Management LLC raised its position in Alerian MLP ETN by 0.8% in the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 94,107 shares of the company’s stock valued at $3,246,000 after purchasing an additional 781 shares during the last quarter. Lynx Investment Advisory bought a new position in Alerian MLP ETN in the 3rd quarter valued at $204,000. Finally, IFP Advisors Inc boosted its stake in Alerian MLP ETN by 2.3% in the third quarter. IFP Advisors Inc now owns 35,183 shares of the company’s stock worth $1,213,000 after purchasing an additional 800 shares in the last quarter.

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.