Cambria Investment Management L.P. Takes Position in Alerian MLP ETF $AMLP

Cambria Investment Management L.P. acquired a new position in Alerian MLP ETF (NYSEARCA:AMLP) during the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 14,734 shares of the exchange traded fund’s stock, valued at approximately $691,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in AMLP. Bank of America Corp DE lifted its stake in Alerian MLP ETF by 0.7% during the second quarter. Bank of America Corp DE now owns 8,453,389 shares of the exchange traded fund’s stock valued at $413,033,000 after purchasing an additional 54,835 shares during the last quarter. Allen Investment Management LLC increased its holdings in shares of Alerian MLP ETF by 9.1% in the third quarter. Allen Investment Management LLC now owns 3,501,325 shares of the exchange traded fund’s stock valued at $164,317,000 after buying an additional 291,011 shares in the last quarter. Raymond James Financial Inc. lifted its position in shares of Alerian MLP ETF by 5.9% during the 2nd quarter. Raymond James Financial Inc. now owns 2,715,784 shares of the exchange traded fund’s stock valued at $132,693,000 after acquiring an additional 152,451 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Alerian MLP ETF by 19.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,634,868 shares of the exchange traded fund’s stock worth $79,886,000 after acquiring an additional 262,817 shares in the last quarter. Finally, Naviter Wealth LLC boosted its stake in shares of Alerian MLP ETF by 6.6% during the 3rd quarter. Naviter Wealth LLC now owns 1,397,127 shares of the exchange traded fund’s stock worth $65,567,000 after acquiring an additional 85,938 shares in the last quarter.

Alerian MLP ETF Stock Up 0.2%

Shares of Alerian MLP ETF stock opened at $52.62 on Thursday. Alerian MLP ETF has a 12-month low of $43.75 and a 12-month high of $52.90. The firm has a market capitalization of $11.86 billion, a PE ratio of 14.17 and a beta of 0.70. The stock’s fifty day moving average is $49.74 and its 200-day moving average is $48.05.

Alerian MLP ETF Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Wednesday, February 11th were issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 7.7%. The ex-dividend date was Wednesday, February 11th. This is a boost from Alerian MLP ETF’s previous quarterly dividend of $1.00.

About Alerian MLP ETF

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).