JPMorgan Chase & Co. Purchases 130,000 Shares of Alerian MLP ETN $AMJB

JPMorgan Chase & Co. grew its position in Alerian MLP ETN (NYSEARCA:AMJB) by 6.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,010,023 shares of the company’s stock after purchasing an additional 130,000 shares during the period. JPMorgan Chase & Co. owned 0.50% of Alerian MLP ETN worth $59,336,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellspring Financial Advisors LLC acquired a new position in shares of Alerian MLP ETN during the second quarter valued at $1,141,000. Lake Street Private Wealth LLC increased 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 worth $3,943,000 after purchasing an additional 32,075 shares during the period. Finally, Nicolet Bankshares Inc. raised its holdings in Alerian MLP ETN by 1.0% during the 3rd 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 during the last quarter.

Alerian MLP ETN Stock Performance

Alerian MLP ETN stock opened at $34.95 on Friday. Alerian MLP ETN has a 1 year low of $26.65 and a 1 year high of $34.97. The company’s 50-day moving average is $33.34 and its two-hundred day moving average is $31.03.

Alerian MLP ETN Increases Dividend

The firm also recently declared a dividend, which was paid on Tuesday, March 10th. Investors of record on Monday, March 2nd were paid a dividend of $0.506 per share. This is a positive change from Alerian MLP ETN’s previous dividend of $0.50. The ex-dividend date of this dividend was Monday, March 2nd.

Insiders Place Their Bets

In other Alerian MLP ETN news, COO Jennifer Piepszak sold 8,571 shares of Alerian MLP ETN stock in a transaction on Friday, January 16th. The shares were sold at an average price of $312.79, for a total transaction of $2,680,923.09. Following the completion of the sale, the chief operating officer owned 71,027 shares of the company’s stock, valued at approximately $22,216,535.33. The trade was a 10.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mary E. Erdoes sold 5,732 shares of the stock in a transaction on Friday, January 16th. The shares were sold at an average price of $312.78, for a total value of $1,792,854.96. Following the completion of the transaction, the chief executive officer directly owned 619,136 shares in the company, valued at approximately $193,653,358.08. This trade represents a 0.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 159,935 shares of company stock valued at $49,273,600 over the last three months.

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.