Alerian MLP ETN (NYSEARCA:AMJB) Sets New 1-Year High – Time to Buy?

Shares of Alerian MLP ETN (NYSEARCA:AMJB) reached a new 52-week high during trading on Wednesday . The company traded as high as $36.14 and last traded at $36.12, with a volume of 16741 shares trading hands. The stock had previously closed at $36.03.

Alerian MLP ETN Stock Up 0.3%

The stock’s fifty day simple moving average is $34.76 and its 200 day simple moving average is $32.51.

Alerian MLP ETN Increases Dividend

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

Insider Buying and Selling

In other Alerian MLP ETN news, CEO James Dimon sold 130,488 shares of the stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $306.56, for a total value of $40,002,401.28. Following the completion of the sale, the chief executive officer owned 1,680,625 shares in the company, valued at approximately $515,212,400. This represents a 7.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the completion of the sale, the chief operating officer owned 85,082 shares of the company’s stock, valued at approximately $26,326,072.44. The trade was a 5.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 316,201 shares of company stock worth $96,979,132 in the last 90 days.

Institutional Trading of Alerian MLP ETN

Several hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC grew its stake 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 valued at $217,000 after buying an additional 1,220 shares during the period. Nicolet Bankshares Inc. grew its stake in shares of Alerian MLP ETN by 1.0% in the 3rd quarter. Nicolet Bankshares Inc. now owns 194,978 shares of the company’s stock valued at $5,756,000 after buying an additional 1,994 shares during the period. Lake Street Private Wealth LLC grew its stake in shares of Alerian MLP ETN by 31.6% in the 3rd 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 period. Finally, JPMorgan Chase & Co. grew its stake in shares of Alerian MLP ETN by 6.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,010,023 shares of the company’s stock valued at $59,336,000 after buying an additional 130,000 shares during the period.

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.