Insider Selling: Alerian MLP ETN (NYSEARCA:AMJB) CEO Sells $1,983,497.28 in Stock

Alerian MLP ETN (NYSEARCA:AMJB) CEO Mary Erdoes sold 6,648 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $298.36, for a total value of $1,983,497.28. Following the completion of the transaction, the chief executive officer directly owned 632,399 shares in the company, valued at $188,682,565.64. This trade represents a 1.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alerian MLP ETN Price Performance

Shares of Alerian MLP ETN stock opened at $36.91 on Monday. The stock’s fifty day moving average is $34.76 and its two-hundred day moving average is $32.53. Alerian MLP ETN has a 52 week low of $28.00 and a 52 week high of $36.99.

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 given a $0.506 dividend. This is a boost from Alerian MLP ETN’s previous dividend of $0.50. The ex-dividend date of this dividend was Monday, March 2nd.

Institutional Investors Weigh In On Alerian MLP ETN

Several hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in shares of Alerian MLP ETN by 16.7% in the 4th quarter. JPMorgan Chase & Co. now owns 2,345,023 shares of the company’s stock worth $70,140,000 after buying an additional 335,000 shares during the period. Nicolet Bankshares Inc. lifted its holdings 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 worth $5,756,000 after buying an additional 1,994 shares during the period. Lake Street Private Wealth LLC lifted its holdings 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 worth $3,943,000 after buying an additional 32,075 shares during the period. Finally, Parallel Advisors LLC lifted its holdings 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 buying an additional 1,220 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.