Alerian MLP ETN (NYSEARCA:AMJB) Trading 0% Higher – What’s Next?

Alerian MLP ETN (NYSEARCA:AMJB)’s stock price shot up 0% during mid-day trading on Thursday . The company traded as high as $31.55 and last traded at $31.48. 22,635 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 47,883 shares. The stock had previously closed at $31.47.

Alerian MLP ETN Price Performance

The company has a 50-day moving average price of $30.32 and a 200 day moving average price of $30.09.

Alerian MLP ETN Increases Dividend

The company also recently declared a dividend, which was paid on Tuesday, December 9th. Shareholders of record on Monday, December 1st were given a dividend of $0.5006 per share. The ex-dividend date of this dividend was Monday, December 1st. This is a positive change from Alerian MLP ETN’s previous dividend of $0.49.

Insiders Place Their Bets

In related news, insider Ashley Bacon sold 7,364 shares of the business’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $312.79, for a total transaction of $2,303,385.56. Following the completion of the transaction, the insider owned 237,157 shares in the company, valued at $74,180,338.03. The trade was a 3.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Stacey Friedman sold 3,404 shares of Alerian MLP ETN stock in a transaction on Friday, January 16th. The stock was sold at an average price of $312.80, for a total transaction of $1,064,771.20. Following the completion of the transaction, the general counsel directly owned 65,353 shares in the company, valued at $20,442,418.40. This represents a 4.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 28,930 shares of company stock worth $9,048,151.

Institutional Investors Weigh In On Alerian MLP ETN

Large investors have recently made changes to their positions in the stock. 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 worth $180,000 after acquiring an additional 1,120 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Alerian MLP ETN by 44.1% in 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 last quarter. Wellspring Financial Advisors LLC acquired a new stake in shares of Alerian MLP ETN during the second quarter worth about $1,141,000. Lake Street Private Wealth LLC boosted its position in 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 valued at $3,943,000 after buying an additional 32,075 shares during the last quarter. Finally, Nicolet Bankshares Inc. increased its holdings in Alerian MLP ETN by 1.0% in the 3rd quarter. Nicolet Bankshares Inc. now owns 194,978 shares of the company’s stock worth $5,756,000 after buying an additional 1,994 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.