Alerian MLP ETN (NYSEARCA:AMJB) Shares Down 2.1% – What’s Next?

Alerian MLP ETN (NYSEARCA:AMJB) dropped 2.1% during trading on Wednesday . The company traded as low as $33.05 and last traded at $33.05. Approximately 34,858 shares changed hands during trading, a decline of 22% from the average daily volume of 44,734 shares. The stock had previously closed at $33.77.

Alerian MLP ETN Trading Down 2.1%

The stock has a 50-day moving average of $35.16 and a 200 day moving average of $33.43.

Alerian MLP ETN Increases Dividend

The firm also recently declared 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. This is a boost from Alerian MLP ETN’s previous dividend of $0.51. The ex-dividend date was Friday, May 29th.

Insider Buying and Selling at Alerian MLP ETN

In related news, insider Ashley Bacon sold 4,070 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total transaction of $1,259,339.40. Following the sale, the insider directly owned 248,785 shares in the company, valued at $76,979,054.70. This represents a 1.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,468 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total value of $1,641,876.36. Following the sale, the general counsel owned 46,428 shares in the company, valued at approximately $13,940,935.56. This trade represents a 10.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 189,698 shares of company stock worth $58,094,245 over the last 90 days.

Institutional Investors Weigh In On Alerian MLP ETN

Several hedge funds and other institutional investors have recently made changes to their positions in AMJB. Parallel Advisors LLC acquired a new stake in shares of Alerian MLP ETN in the 4th quarter valued at $151,000. NewEdge Advisors LLC acquired a new stake in shares of Alerian MLP ETN in the 1st quarter valued at $209,000. Lake Street Private Wealth LLC increased its stake in shares of Alerian MLP ETN by 31.6% in the 3rd quarter. Lake Street Private Wealth LLC now owns 133,560 shares of the company’s stock valued at $3,943,000 after buying an additional 32,075 shares during the period. Nicolet Bankshares Inc. increased its stake in shares of 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. Finally, JPMorgan Chase & Co. increased its stake in shares of Alerian MLP ETN by 6.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,010,023 shares of the company’s stock valued at $59,336,000 after buying an additional 130,000 shares during the period.

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.