Alerian MLP ETN (NYSEARCA:AMJB) Shares Down 2.1% – Here’s Why

Alerian MLP ETN (NYSEARCA:AMJB) fell 2.1% during mid-day trading on Wednesday . The stock traded as low as $33.05 and last traded at $33.05. Approximately 34,858 shares changed hands during mid-day trading, a decline of 22% from the average session volume of 44,734 shares. The stock had previously closed at $33.77.

Alerian MLP ETN Stock Performance

The stock’s 50 day moving average price is $35.14 and its two-hundred day moving average price is $33.45.

Alerian MLP ETN Increases Dividend

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

Insider Activity at Alerian MLP ETN

In other news, CEO Mary E. Erdoes sold 12,345 shares of the business’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $306.57, for a total value of $3,784,606.65. Following the completion of the transaction, the chief executive officer directly owned 639,047 shares of the company’s stock, valued at $195,912,638.79. The trade was a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 9,136 shares of the company’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $306.56, for a total value of $2,800,732.16. Following the completion of the sale, the chief operating officer owned 90,001 shares in the company, valued at $27,590,706.56. This represents a 9.22% decrease in their ownership of the stock. 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 in the last ninety days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMJB. Parallel Advisors LLC grew its holdings 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 buying an additional 1,220 shares in the last quarter. NewEdge Advisors LLC purchased a new position in shares of Alerian MLP ETN during the first quarter valued at approximately $209,000. JPMorgan Chase & Co. boosted its position in 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 acquiring an additional 335,000 shares during the last quarter. Nicolet Bankshares Inc. grew its stake in 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 acquiring an additional 1,994 shares during the period. Finally, Lake Street Private Wealth LLC raised its holdings in 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 acquiring an additional 32,075 shares during the last quarter.

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.