Essex Financial Services Inc. Sells 12,404 Shares of Alerian MLP ETF $AMLP

Essex Financial Services Inc. trimmed its position in shares of Alerian MLP ETF (NYSEARCA:AMLP) by 16.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,109 shares of the exchange traded fund’s stock after selling 12,404 shares during the period. Essex Financial Services Inc.’s holdings in Alerian MLP ETF were worth $2,962,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMLP. Axxcess Wealth Management LLC boosted its position in shares of Alerian MLP ETF by 4.6% during the 3rd quarter. Axxcess Wealth Management LLC now owns 29,412 shares of the exchange traded fund’s stock worth $1,380,000 after acquiring an additional 1,301 shares in the last quarter. Ingalls & Snyder LLC increased its stake in shares of Alerian MLP ETF by 0.9% in the 3rd quarter. Ingalls & Snyder LLC now owns 33,350 shares of the exchange traded fund’s stock valued at $1,565,000 after purchasing an additional 290 shares during the last quarter. Fortis Group Advisors LLC raised its holdings in shares of Alerian MLP ETF by 2.3% during the 3rd quarter. Fortis Group Advisors LLC now owns 141,017 shares of the exchange traded fund’s stock worth $6,577,000 after buying an additional 3,119 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its position in shares of Alerian MLP ETF by 7.5% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 24,136 shares of the exchange traded fund’s stock worth $1,133,000 after buying an additional 1,694 shares during the last quarter. Finally, WealthBridge Capital Management LLC grew its position in Alerian MLP ETF by 1.5% in the third quarter. WealthBridge Capital Management LLC now owns 52,478 shares of the exchange traded fund’s stock valued at $2,463,000 after acquiring an additional 773 shares during the last quarter.

Alerian MLP ETF Trading Up 0.3%

AMLP opened at $51.56 on Thursday. The company has a market cap of $11.62 billion, a P/E ratio of 14.17 and a beta of 0.70. The company’s 50 day moving average is $48.77 and its 200-day moving average is $47.83. Alerian MLP ETF has a 1-year low of $43.75 and a 1-year high of $52.58.

Alerian MLP ETF Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Wednesday, February 11th were given a dividend of $1.01 per share. The ex-dividend date was Wednesday, February 11th. This represents a $4.04 annualized dividend and a yield of 7.8%. This is a boost from Alerian MLP ETF’s previous quarterly dividend of $1.00.

Alerian MLP ETF Profile

ALERIAN MLP ETF seeks investment results that correspond (before fees and expenses) to the price and yield performance of its underlying index, the Alerian MLP Infrastructure Index (the Index). The Index is a rules based, modified capitalization weighted, float adjusted index intended to give investors a means of tracking the overall performance of the United States energy infrastructure Master Limited Partnership (MLP) asset class. The Index is comprised of 25 energy infrastructure MLPs. The fund will invest at least 90% of its total assets in securities, which comprise the Index (or depositary receipts based on such securities).