Alerian MLP ETN (NYSEARCA:AMJB) Hits New 1-Year High – Still a Buy?

Alerian MLP ETN (NYSEARCA:AMJB)’s share price hit a new 52-week high on Tuesday . The company traded as high as $37.25 and last traded at $37.16, with a volume of 12235 shares changing hands. The stock had previously closed at $36.91.

Alerian MLP ETN Price Performance

The stock has a fifty day moving average of $34.92 and a two-hundred day moving average of $32.70.

Alerian MLP ETN Increases Dividend

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

Insider Activity at Alerian MLP ETN

In other Alerian MLP ETN news, CFO Jeremy Barnum sold 5,611 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $306.55, for a total transaction of $1,720,052.05. Following the transaction, the chief financial officer owned 35,460 shares in the company, valued at $10,870,263. The trade was a 13.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 9,136 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $306.56, for a total value of $2,800,732.16. Following the transaction, the chief operating officer owned 90,001 shares in the company, valued at approximately $27,590,706.56. This represents a 9.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 189,698 shares of company stock valued at $58,094,245 over the last 90 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its stake in shares of Alerian MLP ETN by 16.7% during the fourth quarter. JPMorgan Chase & Co. now owns 2,345,023 shares of the company’s stock worth $70,140,000 after purchasing an additional 335,000 shares in the last quarter. Nicolet Bankshares Inc. lifted its stake in shares of Alerian MLP ETN by 1.0% during the third 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 in the last quarter. Lake Street Private Wealth LLC lifted its stake in shares of Alerian MLP ETN by 31.6% during 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 in the last quarter. Finally, Parallel Advisors LLC lifted its stake in shares of Alerian MLP ETN by 24.1% during the first quarter. Parallel Advisors LLC now owns 6,280 shares of the company’s stock worth $217,000 after purchasing an additional 1,220 shares in the last quarter.

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.