Alerian MLP ETN (NYSEARCA:AMJB) Stock Price Up 2% – What’s Next?

Alerian MLP ETN (NYSEARCA:AMJB)’s share price rose 2% during trading on Wednesday . The stock traded as high as $37.20 and last traded at $37.20. 19,098 shares were traded during trading, a decline of 55% from the average daily volume of 42,464 shares. The stock had previously closed at $36.46.

Alerian MLP ETN Stock Up 0.5%

The firm has a fifty day moving average of $35.26 and a two-hundred day moving average of $34.56.

Alerian MLP ETN Increases Dividend

The firm also recently announced a dividend, which was paid on Monday, June 8th. Shareholders of record on Friday, May 29th were given a dividend of $0.5079 per share. This is a positive change from Alerian MLP ETN’s previous dividend of $0.51. The ex-dividend date of this dividend was Friday, May 29th.

Insiders Place Their Bets

In other news, insider Ashley Bacon sold 4,070 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total value of $1,259,339.40. Following the completion of the sale, the insider owned 248,785 shares of the company’s stock, valued at approximately $76,979,054.70. This represents a 1.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,467 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the transaction, the general counsel owned 40,961 shares in the company, valued at approximately $13,547,031.53. This represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 29,594 shares of company stock worth $9,149,888.

Institutional Trading of Alerian MLP ETN

A number of hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its position in Alerian MLP ETN by 16.7% during the 4th quarter. JPMorgan Chase & Co. now owns 2,345,023 shares of the company’s stock valued at $70,140,000 after acquiring an additional 335,000 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Alerian MLP ETN by 24.1% in the 1st quarter. Parallel Advisors LLC now owns 6,280 shares of the company’s stock worth $217,000 after acquiring an additional 1,220 shares in the last quarter. Finally, NewEdge Advisors LLC purchased a new stake in shares of Alerian MLP ETN during the 1st quarter worth $209,000.

About Alerian MLP ETN

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.