Alerian MLP ETN (NYSEARCA:AMJB) Trading 0.4% Higher – Time to Buy?

Alerian MLP ETN (NYSEARCA:AMJB)’s stock price rose 0.4% on Monday . The company traded as high as $33.28 and last traded at $33.24. Approximately 38,160 shares traded hands during mid-day trading, a decline of 5% from the average daily volume of 40,245 shares. The stock had previously closed at $33.11.

Alerian MLP ETN Trading Up 0.4%

The business’s fifty day moving average is $30.95 and its 200-day moving average is $30.31.

Alerian MLP ETN Increases Dividend

The business also recently declared a dividend, which was paid on Tuesday, December 9th. Stockholders of record on Monday, December 1st were paid a dividend of $0.5006 per share. The ex-dividend date was Monday, December 1st. This is an increase from Alerian MLP ETN’s previous dividend of $0.49.

Insider Buying and Selling

In related news, COO Jennifer Piepszak sold 8,571 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $312.79, for a total value of $2,680,923.09. Following the transaction, the chief operating officer owned 71,027 shares in the company, valued at approximately $22,216,535.33. This represents a 10.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jeremy Barnum sold 2,893 shares of the stock in a transaction on Friday, January 16th. The shares were sold at an average price of $312.79, for a total value of $904,901.47. Following the transaction, the chief financial officer directly owned 26,696 shares of the company’s stock, valued at approximately $8,350,241.84. This trade represents a 9.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 27,964 shares of company stock worth $8,746,836 in the last three months.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. MeadowBrook Investment Advisors LLC raised its stake in Alerian MLP ETN by 23.1% in the 2nd quarter. MeadowBrook Investment Advisors LLC now owns 5,960 shares of the company’s stock valued at $180,000 after acquiring an additional 1,120 shares during the period. IFP Advisors Inc boosted its position in Alerian MLP ETN by 44.1% during the second quarter. IFP Advisors Inc now owns 34,363 shares of the company’s stock worth $1,040,000 after purchasing an additional 10,510 shares during the period. Wellspring Financial Advisors LLC bought a new position in Alerian MLP ETN during the second quarter worth about $1,141,000. Lake Street Private Wealth LLC increased its stake in shares of Alerian MLP ETN by 31.6% in the third quarter. Lake Street Private Wealth LLC now owns 133,560 shares of the company’s stock worth $3,943,000 after purchasing an additional 32,075 shares in the last quarter. Finally, Nicolet Bankshares Inc. increased its stake in shares of Alerian MLP ETN by 1.0% in the third quarter. Nicolet Bankshares Inc. now owns 194,978 shares of the company’s stock worth $5,756,000 after purchasing an additional 1,994 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.